MOSCOW, June 30. /TASS/. As many as 97% of German companies oppose the US sanctions against Russia and the Nord Stream 2 project, according to the findings of the latest business climate survey by the Russian-German Chamber of Foreign Trade.
"Due to the threat of more US sanctions to be imposed against the Nord Stream 2 gas pipeline project, 59% companies supported introduction of response measures and counter sanctions by the EU," the Chamber said in a statement.
Another 39% of respondents believe that the government of Germany and the EU should retaliate against the US sanctions on Russia and Nord Stream 2 by protesting via diplomatic channels, whereas 95% of German companies stand for the gradual or immediate removal of anti-Russia sanctions.
"The gas pipeline is a European investment project, which improves the continent’s energy security. Europe should maintain its sovereignty," President of the Russian-German Chamber of Foreign Trade and Chairman of the Executive Board of Austria’s OMV Rainer Seele noted. The gas pipeline may ensure a 16% decline in energy prices, according to the Chamber’s estimations.
"That is an important project for Europe in terms of security of gas delivery, guaranteed gas supplies without risks of interruption in deliveries due to the situation in transit countries. As far as the economic component within the Foreign Trade Chamber’s research is concerned, it once again emphasizes that this infrastructure project is particularly a trigger for investment," Seele said.
Thanks to cheap gas supplies, the Nord Stream project can raise the competitiveness of such industrial platforms as Germany, he added.
The Russian-German Chamber of Foreign Trade represents the interests of German companies in Russia and of Russian companies in Germany. Currently the Chamber consists of 900 firms, being the largest foreign business association in the country. There are 4,274 companies with German capital in Russia now. German direct investment in Russia reached almost 2.1 bln euro in 2019.
The Nord Stream 2 project envisages the construction of two gas pipeline branches that would have a total capacity of 55 bln cubic meters per year transferred from Russia to Germany across the Baltic Sea. To date, 93% of the gas pipeline has been complete. It was reported earlier that US lawmakers introduced a bill expanding sanctions against the Nord Stream 2 gas pipeline project to the Senate for review.