Paul R. Gregory's writings on Russia, the world economy, and other matters that he finds of interest.
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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.