US and Russia Discuss Nord Stream Pipeline Involvement

Top U.S. and Russian officials have held discussions regarding the potential involvement of a U.S. investor in the Nord Stream pipelines, which formerly supplied gas to Germany before Russia's invasion of Ukraine. Among those reportedly involved in the talks are Jared Kushner, former U.S. Special Envoy and son-in-law of President Donald Trump, and Kirill Dmitriev, an adviser to Russian President Vladimir Putin.

Kushner, who has sought to mediate a truce between Russia and Ukraine, has viewed commercial dealings as a path toward peace. Such an arrangement could allow U.S. investors to profit from energy flows to Europe after the conflict concludes. Dmitriev and Kushner have met in Moscow and New York in recent weeks, and while the extent to which Nord Stream was discussed remains unclear, the subject is reportedly still on the agenda.

A White House official stated that any agreements would require negotiation with the U.S. International Development Finance Corporation (DFC) and the Treasury, and must benefit U.S. taxpayers and companies. The official added that there had been no recent discussions about Nord Stream. Dmitriev, who has advocated for the resumption of Russian gas sales to Germany, met with representatives from the U.S. Energy and Treasury Departments last month to discuss potential U.S.-Russia energy initiatives.

The Nord Stream gas pipelines are currently subject to U.S. and EU sanctions, making any restart illegal. A potential revival faces significant hurdles, including the political climate and opposition from European nations heavily supporting Ukraine. Germany, for instance, has found alternative energy sources and its government is not seeking to reopen the pipelines.

Discussions surrounding the pipelines occur against a backdrop of deep mistrust between Europe and Russia. Some German lawmakers have expressed concern that business deals could inadvertently support Moscow's ongoing military actions in Ukraine. Michael Kellner, a German lawmaker who previously managed energy policy, suggested that such deals could lead to Americans and Russians profiting while Europe bears the cost.

Ownership of the Nord Stream company presents further complications. Russian state energy giant Gazprom owns 51%, with German entities holding 31%, and the remainder split between French and Dutch firms. Some German shareholders reportedly aim to retain their stakes to preserve German influence should Gazprom divest.

Kushner and Dmitriev have also reportedly discussed the potential sale of Lukoil's oil refineries and petrol stations in Europe and elsewhere. Under this proposal, a consortium involving the DFC and investors from Qatar and the United Arab Emirates would acquire the assets, potentially leading to the lifting of U.S. sanctions. A White House official confirmed that Kushner and Steve Witkoff worked with the DFC to negotiate terms for the United States on this potential deal.