Sanctions Against “Nord Stream – 2”. Economic Consequences

Abstract

Sanctions, being one of the instruments of US economic policy, have turned into a non-market tool for economic and political pressure, promoting America’s own economic interests and unfair competition. Restrictive measures essentially serve purposes that are far from officially declared, and often even the opposite. One of the most striking examples of this approach are the US sanctions against the Nord Stream 2 project under the pretext of concern for the energy security of the EU countries and the preservation of gas transit through Ukraine. In fact, the sanctions against Nord Stream 2, which fit into the mainstream of Washington's "containment of Russia" policy, pursue the goal of promoting American shale liquefied gas on the European market. The article observes US efforts to counteract the implementation of the project. It analyzes the US sanction laws and their impact on the pipeline construction process. Based on a comparison of the cost of transporting gas along the bottom of the Baltic Sea with the route through the territory of the Ukraine, the economic effect of the suspension of construction is estimated. The consequences of the project’s failure are also considered.