Biden: Nord Stream 2 pipeline is 'bad deal' for Europe

Biden: Nord Stream 2 pipeline is 'bad deal' for Europe

U.S. President Joe Biden believes the Nord Stream 2 natural gas pipeline is a "bad deal for Europe" and his administration will be reviewing restrictions on the project included in a bill that passed during the Trump administration, the White House said.

"We continue to believe, the president continues to believe, that Nord Stream 2 is a bad deal for Europe," White House Press Secretary Jen Psaki told the daily briefing, adding the administration "will be reviewing" the restrictions included in the defense policy legislation.

The restrictions on the undersea pipeline project were included in the annual defense policy bill that passed on Jan. 1. Sanctions in the measure apply to any companies helping Gazprom, the Russian state energy company leading the project, to lay pipeline, insure vessels or verify equipment.

The Trump administration, like the Obama administration before it, opposed the project on the grounds it would strengthen Russian President Vladimir Putin’s economic and political influence over Europe. Russia has cut deliveries of the fuel to Ukraine and parts of Europe in winter during pricing disputes.

Biden has also opposed the project, which would bypass Ukraine and deprive it of lucrative transit fees, since he was vice president under former President Barack Obama. Russia and Germany say the pipeline is a purely commercial project, Reuters reported.