US-Germany agreement on Nord Stream-2: Ukraine will receive additional financial assistance of several billion hryvnias

Любезна Катерина
10:33, 22 July
US-Germany agreement on Nord Stream-2: Ukraine will receive additional financial assistance of several billion hryvnias
Image source: Илья Питалев/РИА Новости

Under the Nord Stream 2 agreement, the United States and Germany will seek to encourage and support investments in the Green Fund for Ukraine of at least $ 1 billion (UAH 27 billion), including from third parties such as the private sector. The first contribution to the fund will be provided by Germany - at least 175 million dollars (4.7 billion UAH) as a grant, and will work to increase its liabilities in the coming financial years.

This is stated in a joint statement by Berlin and Washington, published on June 21.

About $ 70 million (UAH 1.9 million) from Germany will go to bilateral energy projects, primarily to the development of renewable energy sources in Ukraine and increase energy efficiency, as well as to support the gradual abandonment of coal.

At the same time, Berlin is committed to working to reach an agreement in the EU on investments in the Ukrainian energy sector of up to $ 1.77 billion (UAH 46.3 billion) by 2027.

The German authorities also undertake to fully comply with the parameters of the EU's Third Energy Package in the situation with Nord Stream-2.

"We support the energy security of Ukraine, Central and Eastern Europe, in particular, we support the key principles enshrined in the EU's Third Energy Package. They relate to diversification and security of supply", - was informed in the statement.

As for the gas pipeline, the United States will adjust its position taking into account the interests of Berlin. At the same time, these countries will be ready to take retaliatory measures if Russia begins to use energy supplies as a means of pressure on Ukraine.

Read also: The US asks Ukraine to refrain from criticizing the Nord Stream 2 agreement with Germany - Politico

In addition, the signatories are trying to limit the risks that Nord Stream 2 may pose to Ukraine and European energy security.

"We are ready to jointly respond to Russian aggression and destructive activities, including Russia's approaches to the use of energy as a weapon. If Russia tries to use energy as a weapon or continues to act aggressively against Ukraine, Germany will act nationally and call on the European Union to take effective action, including sanctions, to increase Russia's ability to export to Europe in the energy sector, including gas, to limit or take effective measures in other economically important areas", - was informed in the statement.

This commitment is aimed at ensuring that Russia does not use the pipeline to achieve aggressive political goals.

What is known