Lobbyists flee Nord Steam 2 pipeline project
Lobbyists for the embattled Nord Stream 2 pipeline connecting Russian energy to Germany are cutting ties after the Biden administration cleared sanctions on the company behind the project.
Driving the news: K Streets giant BGR and Roberti Global both terminated their lobbying agreement with the company Nord Stream 2 AG.
- Politico first reported the agreements had ended. BGR confirmed its termination to Axios. Roberti did not immediately respond to a request for comment.
Why it matters: Sanctions aimed at punishing Russia's invasion of Ukraine may not deter further aggression but are already hitting key Russian assets.
- President Biden also announced sanctions against two Russian banks and three senior Kremlin officials this week.
- He's expected to unveil additional measures during a White House address on Thursday afternoon.
What they're saying: “BGR is ending its engagement with the Nord Stream 2 gas pipeline project in compliance with economic and trade sanctions announced by the U.S. government,” BGR spokesman Jeff Birnbaum told Axios in an email.
Between the lines: The Nord Stream 2 pipeline is slated to carry Russian gas to Europe.
- It's become a sticking point in efforts to punish Russia over its invasion of Ukraine and deter additional aggression.
- Biden initially waived Trump-era sanctions against companies involved with the project, but rolled back those waivers this week.