The European Union should not limit gas supplies from Russia, the Austrian Foreign Minister believes.Austria threatened Russia with sanctions in case of aggression against Ukraine, but does not want to punish Nord Stream 2 / illustrative photo by REUTERS

Austrian Foreign Minister Alexander Schallenberg said that in the event of an escalation of aggression against Ukraine, Russia will face large economic and financial sanctions from the European Union .

This is reported by the  news agency DPA, referring to an interview with Shallenberg Die Presse newspaper.

However, according to the politician, Russian gas supplies and the Nord Stream 2 gas pipeline should not experience restrictions from the EU.

Shallenberg noted that Nord Stream 2 is not yet operational. Therefore, according to him, the pipeline cannot be used to impose restrictions. In addition, the minister recalled that the Austrian oil and gas company OMV is one of the investors in the Russian gas pipeline.

“We in Europe are to a certain extent dependent on energy from Russia. We cannot change this overnight if we want heat and electricity,” he said.

At the same time, the minister stressed that large-scale economic and financial sanctions of the European Union are being actively worked out in case of Russia’s invasion of Ukraine.

“In the event of an escalation, there will be a very clear, unambiguous and quick response,” Schallenberg said.

He also did not rule out the disconnection of Russia from the international banking payment system SWIFT.

Recall that the Nord Stream 2 project provides for the construction and operation of two gas pipelines with a total capacity of 55 billion cubic meters of gas per year from the Russian coast through the Baltic Sea to Germany.

The pipeline operator is Nord Stream 2 AG, 100% owned by Gazprom.

On September 10, 2021, Russia announced the completion of the construction of the Nord Stream 2 gas pipeline.

To launch Nord Stream 2, it needs to be certified by German authorities. This procedure was started, but was suspended on November 16, 2021 . After certification by the German authorities, the European Commission must give permission to operate. Without the approval of the EC, the gas pipeline cannot be launched.

Ukraine warned that Russia could use the gas pipeline as a “weapon”.

(C)UNIAN 2022