(Finance) – “Yesterday Germany announced that it will stop the certification of the pipeline. Today I ordered my administration to impose sanctions against Nord Stream 2 and its managers. These steps are another part of our first round of sanctions in response to Russia’s actions in Ukraine. As I have made clear, we will not hesitate to take further steps if Russia continues to intensify. “These are the words with which the US president Joe Biden announced sanctions for the strategic gas pipeline that is supposed to bring Russian gas to Germany. Passing through the Baltic Sea, the pipeline allows Russia to avoid Ukraine in the passage of gas to Europe.
L’European Union instead it is preparing to publish new sanctions that they target 23 people including bank executives, military leaders, media figures and a senior Kremlin official, according to international media rumors. On the list is state television presenter Vladimir Soloviev, foreign ministry spokesperson Maria Zakharova and head of Kremlin-backed TV channel RT Margarita Simonyan.
The sanctions on Nord Stream 2 could worry Moscow more than those announced yesterday by the EU, UK and USA, defined as rather limited by many observers, as they have affected small banks and individuals. Meanwhile, the president Vladimir Putin claimed to remain open to “diplomatic solutions”, but insisted that Russia’s interests and security must be guaranteed. Tomorrow i European Union leaders will meet at an extraordinary summit in Brussels to discuss the next steps towards Moscow. “It is important that we remain united and determined and that we jointly define our collective approach and actions,” Charles Michel, President of the European Council, said in a statement.
On the Italian front, the Foreign Minister Luigi Di Maio reported to the Chambers on the Ukrainian crisis announcing that, as agreed with the premier, there will be no “new bilateral meetings with the Russian leaders until there are signs of easing of tension. “The reference is to the face to face between Draghi and Putin first announced and then frozen due to the worsening of the crisis. The Italian one, Di Maio recalled in the classroom, is nothing else that “the line adopted in the last hours” also by the European allies and partners. The meeting between the US Secretary of State Antony Blinken and the Russian Foreign Minister Serghei Lavrov on Thursday was canceled, as was the one scheduled for Friday between the holder of the French foreigners Le Drian and Putin’s envoy.
However, there are those who think that the sanctions introduced so far will not have too heavy an impact on the country. “We do not believe that the Russian economy is particularly vulnerable to sanctions – commented Paul McNamara, Investment Director for Emerging Markets Debt at GAM Investments – With very low government debt, a balance of payments surplus and the strongest foreign exchange reserve position among emerging markets, Russia is not depends on foreign capital to a significant extent; therefore, sanctions aimed at reducing capital inflows will have little impact “.
US intelligence sources reported today that large-scale invasion by Russia could start “within 48 hours” and Ukraine is preparing by mobilizing reservists. 80% of Moscow’s troops would be at the gates of Ukraine – an estimated 170 to 190,000 soldiers, some just five kilometers from the border – as well as an arsenal ranging from ballistic and cruise missiles to artillery.