German businesses working on response to Nord Stream 2 sanctions

The German Eastern Business Association (OAOEV) calls for retaliatory measures in connection with the US plans to toughen sanctions against the Nord Stream 2 pipeline project with Russia, OAOEV chief Michael Harms said in an interview with Funke Mediengruppe published on Wednesday.

"Up until now, we warned against harsh retaliatory measures regarding the United States, because we don’t want to find ourselves embroiled into the spiral of sanctions. Now we have a different opinion about that," he said.

"We are actively working on practical proposals. They may vary from clear diplomatic statements and compensation for local firms to protective retaliatory sanctions," the OAOEV chief said.

At the same time, Harms said that the U.S. plans make no specific mention of any company at the moment.

The US embassy in Berlin has started to invite companies for discussions on the Nord Stream 2 pipeline project with Russia, according to the German Eastern Business Association (OAOEV)’s data.

"The US embassy in Berlin has already been imperatively proposing dates for negotiations to certain companies," TASS cited Harms as saying.

"We view such actions as not suitable for partners," he added. "In this regard, we closely coordinate our actions with the German government."

"We view threats of sanctions on behalf of the United States as a dangerous precedent," the OAOEV chief continued.

According to Harms, German businesses still view Nord Stream 2 as an "extremely important" project. "It will help to ensure gas supplies, maintain low prices and help in protecting the climate," the German expert said.