Two weeks after the Biden administration waived congressionally mandated sanctions on Nord Stream AG, the company behind the Nord Stream 2 pipeline, Russian President Vladimir Putin announced that the first link of the subsea line is completed and ready for testing. But the Russian president knows it is too early for a victory dance. Amidst a flurry of sharp reactions to the sanctions’ waivers from US Congress and most Central-East European states, and the ongoing US-German talks on mitigating the potential negative impact of the pipeline completion on Ukraine, the future of the pipeline remains uncertain.

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