Page 12 - Gi flipbook August 2018

NEWS | INTERNATIONAL

RUSSIA
US and Russian officials discuss

sanctions and gas pipeline plans

RUSSIAN ENERGY Construction of the pipeline
MINISTER Alexander Novak is underway
discussed US sanctions
on Russia and Moscow’s
plan to expand its Nord
Stream gas pipeline to
Germany, which has irked
Washington, in talks with
US Treasury and Energy
Secretaries.
Russia is one of the
world’s biggest crude oil
and natural gas producers,
and the United States has
been urging global energy
producers to boost output
to stem an increase in prices.
“We met. We discussed
energy issues, among
other things. We touched
upon questions related to
sanctions,” Novak said of his
meeting with US Treasury NORD STREAM
Secretary Steven Mnuchin
at a press briefing in
Washington, Reuters reports.
“We can’t sidestep these Washington believes the economic basis without any get its energy production
difficult questions, so of pipeline would give Russia, political evaluation of this to European markets, and
course we touched upon which has at times frozen project,” Novak said after is also keen to develop
them during our contact.” deliveries to parts of Europe his meetings. energy reserves in its Arctic.
Novak said other over pricing disputes, more The meetings took place Novak has said in the
discussions with US Energy power over the region while energy executives past that the United States
Secretary Rick Perry covered and the administration of and ministers from around should not be permitted
Russia’s Nord Stream President Donald Trump the globe converged on to impose such sanctions
undersea gas pipeline. has followed that of Barack Washington for the triennial without a vote of the
Plans to double the Obama in opposing the World Gas Conference, the United Nations Security
capacity of the pipeline to Nord Stream 2 project. industry’s biggest summit. Council, of which Russia is a
110 billion cubic meters The planned volumes The US Congress permanent member.
per year have riled both are more than half of has imposed economic The United States has
Washington and Brussels, Russian total gas exports sanctions in recent months been urging increased
which is trying to cut its to Europe, which is seen against Russia that, among supply from the world’s
reliance on energy supplies reaching a record high of other things, seek to biggest producers, including
from Russia. 200bcm this year. prevent companies from OPEC members, to help
The move to expand the participating in Russian stem an increase in oil
Russian Energy pipeline is also designed pipeline projects or oil and prices that threatens
Minister KREMLINT to bypass Ukraine, the gas development efforts. economic growth.
Alexander main route of Russian gas The sanctions were It is also renewing
Novak
exports to Europe. designed to punish Russia sanctions against OPEC
Novak said politics should for its 2014 annexation of producer Iran after
not be allowed to intrude Crimea from Ukraine and abandoning a global deal
into discussion of the Nord for meddling in the 2016 meant to stem its nuclear
Stream project which stood US presidential election. ambitions, and urging
on its own economic merits. Moscow denies it interfered consumers of its oil to stop
“The implementation of in the election. their imports completely –
such infrastructure projects Russia depends heavily another factor pushing up
has to be built on the on pipeline networks to oil prices. ■

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News.indd 7 19/07/2018 12:46