Germany's Bold Move to Protect Nord Stream 2 from Foreign Takeover

In a strategic move, Germany is evaluating amendments to its foreign trade law to secure Nord Stream 2 pipelines from acquisition, according to a document released on Friday. This decision comes amidst Berlin's campaigns to obstruct the reintroduction of Russian gas imports amid the ongoing Ukraine conflict.

Historically dependent on economical Russian gas, Germany has shifted focus since the Ukraine war ensued. Despite past support for the pipelines, Chancellor Friedrich Merz emphasized that Nord Stream 2 will not commence operations. Nonetheless, current legislation offers no recourse to block a sale of the assets, managed by Russian energy giant Gazprom.

Set across the Baltic Sea, the dual-pipe Nord Stream system was once Europe's primary conduit for Russian gas. However, tensions halted Nord Stream 2 operations in 2021, worsened by unexplained pipeline explosions in 2022. As Swiss-based Nord Stream 2 navigates insolvency, discussions about foreign takeovers have intensified, with German policymakers advocating for tighter laws.

(With inputs from agencies.)