Canada Revokes Waiver Linked to Nord Stream Turbines -- Update
15 December 2022 - 1:50PM
Dow Jones News
By Paul Vieira
OTTAWA--Canada said Wednesday it was revoking a waiver that
allowed the return of repaired turbines to Germany for use on the
Nord Stream pipeline, saying the measure no longer serves its
intended purpose because the energy corridor is inoperable after
alleged sabotage.
Nord Stream was the main artery for Russian gas to Europe, and
was controlled by Russian state-owned Gazprom. After Moscow said it
had to scale back gas shipments due to maintenance issues, Canada
revised its own sanctions in mid-July to allow turbines being
repaired at a Siemens Energy AG facility in Montreal to be shipped
to Europe.
In August, Moscow cut off all supplies, citing technical
problems and western sanctions, adding it would keep exports closed
indefinitely.
"After the waiver was granted, [Russian President Vladimir]
Putin showed his hand, refusing to increase exports through Nord
Stream to normal levels," Canada's foreign and natural resources
ministers said in a statement.
The pipeline has since been deemed inoperable following
explosions in the Baltic Sea, with no timetable on reopening.
European investigators have alleged the explosions were an act of
sabotage. Canada said repealing the waiver takes into account that
"circumstances ... have changed, [and] it no longer serves its
intended purpose."
On its official Twitter account, Russia's embassy in Ottawa
denied any Russian role in the Baltic Sea explosions. An embassy
spokesman said that the decision was designed to bolster support
among Canada's Ukraine diaspora.
Canada said it made the decision following talks with Germany,
Ukraine and other European allies.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
December 14, 2022 21:35 ET (02:35 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Siemens Energy (TG:ENR)
Historical Stock Chart
From Apr 2024 to May 2024
Siemens Energy (TG:ENR)
Historical Stock Chart
From May 2023 to May 2024