Deputy Prime Minister Alexander Novak said a ban would create 'catastrophic consequences for the global market.'
The Nord Stream 2 pipeline from Russia to Germany is complete, but Germany's final approval has been put on hold following Russia's actions in Ukraine. Russia's shelling on Ukrainian cities and villages is about to enter its third week.and let its employees go due to the sanctions.
The Nord Stream 1 pipeline has been supplying Germany with gas since 2011, and has the capacity to supply thewith 55 billion cubic meters of gas a year for at least 50 years, according to its website. The majority of Germany's gas comes via Nord Stream 1, meaning that if use of the pipeline was halted, it would cause"a serious blow" to Germany's economy, Reuters reported.Update 3/8/22, 12:27 p.m. ET: This story was updated with additional information.