Much has been made of President Biden’s comment that “Nord Stream 2 is a bad deal for Europe.” Yet with the announcement by Secretary of State Antony Blinken that Nord Stream 2 sanctions are not in the U.S. national interest and will be waived, the Russian-financed European pipeline should glide to a speedy completion. There remains only German regulatory approval before Nord Stream 2 will become operational, unless Germany’s September elections yield some major surprises.

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