OREANDA-NEWS. Former German Chancellor Gerhard Schroder considers the new sanctions against the gas pipeline Nord Stream 2 prepared by the US authorities to be deliberate termination of the transatlantic partnership, “widespread, unjustified attack on the European economy and unacceptable interference with EU sovereignty and energy security of Western Europe.”

On July 1, the politician will speak at open hearings of the Bundestag Committee on Economics Affairs and Energy. The newspaper Handelsblatt cites extracts from his future speech.

Schroder is a Chairman of the Committee of Shareholders of Nord Stream AG, a company building the gas pipeline. According to him, the sanctions will affect more than 120 companies working in the spheres of shipbuilding, engineering, environmental protection and safety. Schroder noted that the adoption of new restrictive measures against Nord Stream 2 will be followed by significant financial losses. In particular, he believes that investments in European infrastructure in the amount of 12 billion euros will be in jeopardy, and consumers in Europe will face additional costs of up to 4 billion euros per year.