US and Russian officials discuss bringing US investor into Nord Stream, sources say

Right · 2Top Russian and US officials, including US Special Envoy Jared Kushner, have held talks about bringing a US investor into the Nord Stream pipelines that delivered gas to Germany before Russia invaded Ukraine, according to five people with knowledge of the situation cited by Reuters. 1 2 Right · 1The discussions included Kirill Dmitriev, a close adviser to Russian President Vladimir Putin, and Kushner, the son-in-law of US President Donald Trump. 1 Right · 2Dmitriev and Kushner have met in Moscow and New York in recent weeks; it was unclear how far they discussed Nord Stream at those meetings, but two of the sources said the topic remains on the agenda. 1 2

Right · 2A White House official said any deals would have to be negotiated by Russia with the US International Development Finance Corporation (DFC) and the Treasury and must benefit US taxpayers and companies, and that there had been "no Nord Stream discussions recently". 1 2 Right · 2A US official said a deal is unlikely in the medium term given the obstacles. The pipelines are sanctioned by the US and the EU, which makes a restart illegal; Trump could waive or soften US sanctions, but that would be harder if Democrats win control of Congress in next month's midterm elections. 1 2 Right · 2Germany's economy and energy ministry said Nord Stream and Russian gas are sanctioned in Europe, that Germany had found alternatives, and that any reopening would need government approval, which was not desired. Germany's coalition government opposes a restart, while the Alternative for Germany (AfD) wants one, and Dmitriev is due to meet AfD leaders early next year. 1 2

Right · 1Michael Kellner, a German lawmaker who led energy policy after the invasion, warned: "This threatens to be a dirty deal that will cost Europe dearly... Americans and Russians will share the profits." Poland's leadership is watching the talks but remains firmly opposed, according to one source. 2 Right · 2Ownership is a further hurdle: the company controlling the pipelines is 51% owned by Gazprom, with 31% split between two German entities and the rest held by a French and a Dutch firm, and the two German shareholders want to keep their stakes to preserve German influence if Gazprom sells. 1 2 Right · 1Kushner, who is trying to broker a truce between Russia and Ukraine, views doing business as central to restoring peace; days after the Moscow meetings he said in Kyiv he advocated "prosperity agreements" to encourage peace. 1

Right · 1Kushner and Dmitriev have also discussed selling Lukoil's businesses, from refineries to petrol stations, to a consortium of the DFC and investors from Qatar and the UAE, with US sanctions lifted, according to two other sources. A White House official said Steve Witkoff and Kushner worked with the DFC to negotiate a substantial upfront payment and profits interest for the United States. 1 Right · 2Dmitriev's representative declined to comment, and Lukoil and Gazprom did not respond to requests for comment. 1 2