The Germans from E.ON refuse to close the Nord Stream gas pipeline

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E.ON does not agree with the closure of the Nord Stream 1 pipeline as part of Russia’s sanctions on invading Ukraine, a company spokesman told Rheinische Post on Monday, Reuters reported. E.ON is the largest European energy network operator.

Last week, German authorities suspended procedures for authorizing the Nord Stream 2 pipeline, a $ 11 billion project that would have doubled Russian gas supplies to Germany in response to Russia’s actions in Ukraine. On Saturday, Polish Prime Minister Mateusz Morawiecki called for the closure of Nord Stream 1, which has been carrying Russian gas to Germany since 2011.

E.ON, which has a 15.5% stake in Nord Stream 1, says the project “is completely different from the current discussions on Nord Stream 2”.

“Nord Stream 1 has been approved and is a fully operational gas pipeline. Its capacity has been fully utilized in the last two years, “said a spokesman for the German company. Investors in Nord Stream 1 include Gazprom, the German companies Wintershall DEA, PEG Infrastruktur E.ON, the Dutch company Gasunie and the French company Engie, Agerpres reports.

Russia’s central bank has said it “has the tools and resources to maintain financial stability and ensure the continued continuity of the financial sector.” The financial institution has reserves of about $ 630 billion.

The European Commission, the United States, Canada and the United Kingdom decided on Saturday to freeze Russia’s Central Bank assets, and some Russian banks have been excluded from the SWIFT interbank system, a key tool for global finance.

Due to fears of international sanctions, Russia’s Central Bank was forced on Friday to increase the amount of money ATMs are supplied, with demand for cash reaching its highest level since March 2020.