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Pompeo: US will finance $ 1 billion in energy projects in Europe

UNITED STATES (OBSERVATORY NEWS) — US Secretary of State Mike Pompeo announced Saturday that his country will finance projects worth one billion dollars in the energy sector in eastern and central Europe to enhance its independence in the energy sector vis-a-vis Russia.

“In a sign of support for the sovereignty, prosperity and independence of our European friends in the energy field,” Pompeo said at the Munich security conference. “… The United States intends to grant up to one billion dollars in funds for Central and Eastern European countries that are members of the Three Seas Initiative” which includes 12 countries. From the European Union.

“We want to stimulate private sector investment in their energy sectors in order to protect freedom and democracy in the world,” he added.

The Three Seas initiative brings together 12 European Union countries bordering the Baltic Sea, Adriatic Sea and Black Sea. It extends from Estonia and Poland in the north to Croatia in the south, Romania and Bulgaria in the east.

This initiative aims to enhance cooperation among its members in the fields of energy, infrastructure and security, especially in the face of Russia, which is considered by a number of member states as a direct threat.

And these countries, like the United States, object to the “Nord Stream 2” gas pipeline project (North Stream 2), which aims to double the operations of sending Russian gas directly to western European countries, passing through the Baltic Sea to Germany and bypassing the eastern continent.

The United States imposed sanctions on companies linked to the construction of “Nord Stream 2” pipes, saying that this would increase the Europeans dependence on Russian gas, as well as enhance Moscow’s influence.

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