On Tuesday, Germany announced they are revoking certification for the Nord Stream 2 pipeline, a major project to import Russian gas into Europe, in retaliation for the Russian invasion of Ukraine — a move NATO has been threatening for weeks, and a serious threat to Russia's energy sector.
Speaking to CNN, correspondent Matthew Chance outlined the potential consequences of the move.
"How much will that assuage some of the concerns that Ukrainian leaders have?" asked anchor John Berman.
"Well, I mean, it is a massive development," said Chance. "This is the biggest geopolitical project that the Russians had. It would, you know, massively increase the amount of gas that Russia can sell to the European Union. This is a pipeline, of course, that carries gas from Russia to Germany. And it — it bypasses, of course, the pipeline network that runs across Ukraine. The concern was that if that pipeline was given the okay, and the green light, it would mean that Russia no longer needed the pipelines that run across Ukraine to deliver its gas from its gas fields in Siberia, to its biggest markets in the European Union."
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"The fact that that pipeline is has now been put on hold is a major blow to the strategic ambitions of Moscow, and ... it might discourage the Russians," added Chance. "I think this is part of the thinking. It may deter the Russians from moving any further into Ukraine and escalating this conflict."
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