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Trudeau: Decision to return Nord Stream 1 turbine to Germany was ‘very difficult.’Canada’s Prime Minister Justin Trudeau said on July 13 that it was a “very difficult decision” to return the gas pipeline’s turbine to Russia through Germany. The turbine of the operational pipeline was being repaired in Canada at the facilities of a German company Siemens Energy. Ukraine said that returning the turbine would let Russia continue weaponize its energy supplies to Europe.
India is importing 20% of its oil from Russia, up from less than 5% in recent years. It's cheap oil but it won't change the macro picture. Could save 0.3% of GDP but we still expect the current account deficit to widen past 3.5% of GDP in the next twelve months.
Nord Stream-2 wins a round in European court, protesting its shut down in July. NS2 has won a process victory in Europe, allowing an appeal of EU rules to move forward. Europe’s deepening energy crisis may have local authorities looking for politically acceptable ways to allow NS2’s launch after years of delays.
The claim of NS2 on the EU gas directive ruled as “partially admissible” by the Court of Justice of the European Union in Luxembourg (Kommersant). As background, Nord Stream 2 AG is challenging a EU gas directive that came into force in 2019, which extended European legislation to gas pipelines from third countries and required the introduction of non-discriminatory, third-party access to the pipeline based on publicly announced tariffs. In 2021, the company was denied an exemption for Nord Stream 2 from the norms of the EU gas directive.
126 RUSSIA Country Report October 2020 www.intellinews.com