Paul R. Gregory's writings on Russia, the world economy, and other matters that he finds of interest.
Wednesday, March 3, 2021
Do Biden's 'tough new sanctions' give Putin Nord Stream 2?
Western media is greeting the Biden administration’s Russian sanctions as “signaling a tougher stance on Russia than under former President Donald Trump.” Vladimir Putin likely thinks otherwise.
It looks as if the Biden administration has blinked on Putin’s key foreign policy objective — the completion and operation of the Nord Stream 2 pipeline, delivering Russian gas to Europe. The sanctioning of a few Kremlin officials is petty change compared to the decade-long profitable effects of Russian pipeline politics.