Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Business > Germany committed to Ukraine’s gas transit role, says Scholz
    Business

    Germany committed to Ukraine’s gas transit role, says Scholz

    Germany committed to Ukraine’s gas transit role, says Scholz

    Published by maria gbaf

    Posted on December 13, 2021

    Featured image for article about Business

    By Andreas Rinke

    WARSAW (Reuters) -Germany is committed to safeguarding Ukraine’s role as a transit route for gas into Europe, Chancellor Olaf Scholz said on Sunday, as Russian troop movements along the Ukrainian border increased pressure on the Nord Stream 2 pipeline.

    Nord Stream 2, which would carry Russian gas to Germany and bypass Ukraine, has not been certified due to regulatory hurdles, while Poland and the United States have demanded a halt to the pipeline should Russia invade Ukraine.

    Germany’s new government, sworn in on Wednesday, has not made a public commitment to block it.

    During his first visit to Poland as chancellor, Scholz said Germany felt responsible for ensuring that Ukraine’s gas transit business was successful, echoing his predecessor Angela Merkel.

    “The same goes for future opportunities,” Scholz said at a joint news conference with Polish Prime Minister Mateusz Morawiecki. “We will also help Ukraine be a country that will be a major source of renewable energy and the necessary production that results from that. We are in concrete talks around how we can help achieve that,” Scholz said.

    Merkel had said the political basis for operating Nord Stream 2 was Russia’s commitment to continue to use Ukraine as a gas transit route.

    Russia has amassed troops on its border with Ukraine, sparking fears of a possible invasion. U.S. President Joe Biden on Tuesday warned Russian counterpart Vladimir Putin that Nord Stream 2 could be disrupted and tough economic sanctions put in place if troops invaded.

    U.S. officials have told members of Congress they have an understanding with Germany about shutting down Nord Stream 2 if Russia invades Ukraine, a senior congressional aide said on Tuesday.

    German officials have not confirmed that, but Scholz said on Wednesday that there would be consequences if Russia breached Ukraine’s border, a line confirmed by the Group of Seven https://www.reuters.com/world/europe/g7-warns-russia-massive-consequences-over-ukraine-draft-statement-2021-12-12 richest democracies on Sunday.

    “It is important that Europe makes clear together that we will not accept this and that we do not agree with what is happening there,” Scholz said in Poland. “We will not accept a violation of those borders.”

    Scholz’s visit also included talks on the Belarus migrant crisis and Poland’s judicial independence.

    Germany has backed Poland’s efforts to stop the flow of migrants seeking entry from Belarus – a crisis the European Union has accused Minsk of engineering – and said it would help Warsaw and Brussels to find a solution.

    Poland, and also Hungary, is embroiled in a long-running row with the European Union over issues including judicial independence, press freedom and LGBT rights, a dispute that has intensified with Brussels taking legal action against Warsaw and Budapest.

    Scholz said he hoped that Poland and the EU would find a solution.

    Merkel faced criticism that she could have done more to stop democratic backsliding in the east of the EU.

    (Additional reporting by Joseph Nasr and Maria Sheahan in Berlin and Christoph Steitz in FrankfurtEditing by Ros Russell, David Goodman and Barbara Lewis)

    By Andreas Rinke

    WARSAW (Reuters) -Germany is committed to safeguarding Ukraine’s role as a transit route for gas into Europe, Chancellor Olaf Scholz said on Sunday, as Russian troop movements along the Ukrainian border increased pressure on the Nord Stream 2 pipeline.

    Nord Stream 2, which would carry Russian gas to Germany and bypass Ukraine, has not been certified due to regulatory hurdles, while Poland and the United States have demanded a halt to the pipeline should Russia invade Ukraine.

    Germany’s new government, sworn in on Wednesday, has not made a public commitment to block it.

    During his first visit to Poland as chancellor, Scholz said Germany felt responsible for ensuring that Ukraine’s gas transit business was successful, echoing his predecessor Angela Merkel.

    “The same goes for future opportunities,” Scholz said at a joint news conference with Polish Prime Minister Mateusz Morawiecki. “We will also help Ukraine be a country that will be a major source of renewable energy and the necessary production that results from that. We are in concrete talks around how we can help achieve that,” Scholz said.

    Merkel had said the political basis for operating Nord Stream 2 was Russia’s commitment to continue to use Ukraine as a gas transit route.

    Russia has amassed troops on its border with Ukraine, sparking fears of a possible invasion. U.S. President Joe Biden on Tuesday warned Russian counterpart Vladimir Putin that Nord Stream 2 could be disrupted and tough economic sanctions put in place if troops invaded.

    U.S. officials have told members of Congress they have an understanding with Germany about shutting down Nord Stream 2 if Russia invades Ukraine, a senior congressional aide said on Tuesday.

    German officials have not confirmed that, but Scholz said on Wednesday that there would be consequences if Russia breached Ukraine’s border, a line confirmed by the Group of Seven https://www.reuters.com/world/europe/g7-warns-russia-massive-consequences-over-ukraine-draft-statement-2021-12-12 richest democracies on Sunday.

    “It is important that Europe makes clear together that we will not accept this and that we do not agree with what is happening there,” Scholz said in Poland. “We will not accept a violation of those borders.”

    Scholz’s visit also included talks on the Belarus migrant crisis and Poland’s judicial independence.

    Germany has backed Poland’s efforts to stop the flow of migrants seeking entry from Belarus – a crisis the European Union has accused Minsk of engineering – and said it would help Warsaw and Brussels to find a solution.

    Poland, and also Hungary, is embroiled in a long-running row with the European Union over issues including judicial independence, press freedom and LGBT rights, a dispute that has intensified with Brussels taking legal action against Warsaw and Budapest.

    Scholz said he hoped that Poland and the EU would find a solution.

    Merkel faced criticism that she could have done more to stop democratic backsliding in the east of the EU.

    (Additional reporting by Joseph Nasr and Maria Sheahan in Berlin and Christoph Steitz in FrankfurtEditing by Ros Russell, David Goodman and Barbara Lewis)

    Related Posts
    Five questions to ask before stepping into Employee Ownership
    Five questions to ask before stepping into Employee Ownership
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    How Investability Helps Companies Navigate Transformational Times
    How Investability Helps Companies Navigate Transformational Times
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Reducing Freight Costs to Drive Global Trade Expansion
    Reducing Freight Costs to Drive Global Trade Expansion
    The Psychology of Music in the Modern Workplace
    The Psychology of Music in the Modern Workplace
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Business

    Explore more articles in the Business category

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    2025-2030: The Next Technological Innovations for Business

    2025-2030: The Next Technological Innovations for Business

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    E-commerce Customer Service: Tips

    E-commerce Customer Service: Tips

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    Hurt at Work? 5 Financial Facts You Need to Know

    Hurt at Work? 5 Financial Facts You Need to Know

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Empower Your Workforce With Financial Wellness This Labor Day

    Empower Your Workforce With Financial Wellness This Labor Day

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    View All Business Posts
    Previous Business PostCheck for Archegos-style risks, Bank of England tells banks
    Next Business PostBritain’s BT awaits top investor Drahi’s next move as takeover ban expires