icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
20 May, 2021 10:20

Face-saving fakery: Biden administration’s caving in by waiving sanctions on Nord Stream 2, Professor Wolff tells Boom Bust

Face-saving fakery: Biden administration’s caving in by waiving sanctions on Nord Stream 2, Professor Wolff tells Boom Bust

Washington has declined to impose sanctions on Nord Stream 2 AG, a Swiss-based subsidiary of Russia’s Gazprom that’s in charge of the construction of a natural gas pipeline from Russia to Germany.

According to the US State Department, penalties against the company and its CEO, Matthias Warnig, would have a negative impact on US relations with Germany, the EU, and other European allies and partners. However, the White House has blacklisted four ships and four entities involved in the project.

Also on rt.com Report says US will waive some sanctions on Nord Stream 2 pipeline – but reveals possible ‘Plan B’ to stop Russia-Germany gas link

RT’s Boom Bust talked to Professor Richard Wolff, host of the radio/TV show and podcast ‘Economic Update’, to get a detailed analysis on the controversial decision.

“I think this is face-saving fakery, to be blunt and honest. By punishing or saying you’re going to punish a few Russian ships, you can appear to be a very tough guy, in a way that President Trump was and that many want Mr. Biden to be,” he opined.

According to Wolff, the current administration has caved in by not sanctioning the company that is in charge of the entire project.

For more stories on economy & finance visit RT's business section

Podcasts
0:00
26:13
0:00
24:57