Ukraine is a key transit route for Russian piped gas exports to Europe and the existing deal between the two post-Soviet countries expires at the end of 2019.

“Such sanctions are a serious interference in the internal affairs of Germany and Europe and their sovereignty. We firmly reject this,” Scholz told German broadcaster ARD in comments released on Saturday. But he rejected countermeasures.

The EU first imposed energy sanctions in July 2014 when it limited Russia 's access to European technology and services for developing Arctic, deepwater and unconventional oil resources.

Switzerland’s AllSeas Group SA removed vessels that were laying the last section of the pipeline connecting Russia with Germany, which was just weeks away from completion, after U.S. President Donald Trump approved sanctions targeting the project.

In anticipation of the enactment of the National Defense Authorization Act (NDAA), Allseas has suspended its Nord Stream 2 pipelay activities. Allseas will proceed, consistent with the legislation’s wind down provision and expect guidance comprising of the necessary regulatory, technical and environmental clarifications from the relevant US authority.

The project could cost 1 trillion yen ($9.1 billion). The parties plan to make a final investment decision in 2021 and start production in 2027.

The U.S. has little leverage to prevent the Nord Stream 2 gas pipeline project between Russia and Germany from being completed, two administration officials said, acknowledging the failure of a years-long effort to head off what officials believe is a threat to European security.

Gazprom, which has already invested in several oil and gas projects in Vietnam, last year signed a new agreement on the development of the Bao Vang gas field and a power station in the central part of country.

The 764-mile Nord Stream 2 will deliver Russian gas to Germany under the Baltic Sea and is expected to double the capacity of the gas corridor to 110 Bcm/year.

“We also see that the human capital, at 46 percent, comprises the largest share of wealth in Russia, with the natural capital share, standing at 20 percent. As a rough approximation, we estimate that Russia's forests provide annual absorption of about 640 million tons of CO2 equivalent.”