Even so, one geopolitical conundrum is casting a big shadow over the relationship. Nord Stream 2, a recently completed 1,230km undersea pipeline for natural gas from Russia to Germany, is fiercely opposed by America’s Congress. Mr Biden opposes it too, but waived sanctions in May to avoid a row with a close ally. If Republican senators have their way, he may be compelled to impose them after all.
Led by Ted Cruz, a senator from Texas, Republicans in the Senate are pushing for new sanctions via an amendment to the annual National Defence Authorisation Act . On December 1st the Senate was due to vote on 21 amendments to theThe Economist went to press, as the Republicans tried to add yet more amendments. Mr Cruz and his allies are also blocking the appointment of several dozen foreign-policy officials, including the American ambassadors to Germany, Israel and Egypt, to increase the pressure on Mr Biden.2 since Gazprom, Russia’s state-controlled gas giant, joined forces with five European energy firms in 2015 to build it alongside an existing pipeline under the Baltic Sea, at a cost of €9.5bn .
Yet the pipeline has been hitting new problems. As well as the growing pressure from Congress, in mid-November Germany’s energy regulator suspended the certification process of the pipeline. It said that to secure an operating licence the2 consortium needed first to form a German subsidiary under German company law, which will introduce a delay.2. It says only that European energy law “applies to energy projects in Germany”.
If the oil maturity falls below 71.80, you will buy oil for 1000 dollars per barrel in 2024.
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