German business is preparing a response to the threat of US sanctions against Nord Stream 2

The Eastern Committee of German economy is considering a response to the threat of imposition of U.S. sanctions against the "Nord stream — 2", until the counter-sanctions, said the Executive Director of the Committee Michael harms in an interview with the publications of the media group Funke.

U.S. Secretary of state Mike Pompeo reported earlier that the state Department published recommendations in the framework of the law on counteraction to Russia through sanctions, including the document "Nord stream — 2" and second thread "Turkish stream." These actions put at risk the us sanctions on investments and other actions associated with the Russian export gas pipelines.

"Until now we have always warned of tough countermeasures against the US, because we don't want to get into a sanctions spiral. Now we see it differently," said harms.

He noted that the Committee is working on specific measures. "They can range from clear political statements, compensation to local companies, to defensive counter-sanctions", - said harms.

He warned that the US authorities can block accounts of participating companies and to expand sanctions on banks funding the project. Harms added that "the U.S. Embassy in Berlin urges some firms (mark – ed) for specific dates for negotiations".

Harms said that the threat of U.S. sanctions can be "a dangerous precedent". "The EU needs to act effectively against it. You need to avoid that other States have come to similar ideas," he said.

Harms previously stated RIA Novosti that "Nord stream — 2" and other issues of sovereign character of the United States and the EU can be solved only in a batch agreement.

The head of Committee Oliver Hermes 16 Jul called unprecedented intervention in the energy sovereignty to the EU, the US announced sanctions against the "Nord stream — 2". He added that Europe needs "an effective protective shield" for companies that are "unfairly affected by US sanctions, to protect them from financial damage."

"Nord stream — 2" - building a new export pipeline from Russia to Europe via the Baltic sea. The entry point of the gas pipeline in the Baltic sea - the area of Ust-Luga in Leningrad region, output in Germany near Greifswald. The length of the route - more than 1.2 thousand kilometers. The total capacity of the two strands of "Nord stream — 2" - 55 billion cubic meters of gas per year. The total designed capacity of "Nord stream" and "Nord stream — 2" is 110 billion cubic meters of gas per year