Construction work resumes on controversial Nord Stream 2 pipeline

German Chancellor Angela Merkel delivers a speech on the eve of a EU summit during a session at the Bundestag (lower house of parliament) on December 9, 2020 in Berlin. (AFP)
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Updated 12 December 2020
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Construction work resumes on controversial Nord Stream 2 pipeline

  • Trump’s administration has repeatedly slammed Germany and other European nations for their reliance on energy from Russia, with the president himself calling Europe’s biggest economy a “captive to Russia”

BERLIN: Construction work resumed Friday on the disputed Nord Stream 2 pipeline which is to bring Russian gas to Germany, the project’s managers said, despite protests from the US.

Work on the €10-billion ($11 billion) pipeline had been suspended for nearly a year because of US sanctions signed off by US President Donald Trump in late 2019 that threatened asset freezes and visa restrictions for companies involved in the construction.
Trump’s administration has repeatedly slammed Germany and other European nations for their reliance on energy from Russia, with the president himself calling Europe’s biggest economy a “captive to Russia.”
But on Friday, Germany’s Authority of Waterways and Shipping Management published a notice to seafarers on the resumption of building works on the final few kilometers of the pipeline.
It warned them to avoid the area up to “around Dec. 31, 2020,” and pointed out that “anchoring or fishing is not permitted in the area of the planned pipelines.”
Confirming the resumption of construction, Nord Stream 2 said in a statement that “the pipelay vessel Fortuna will lay a 2.6 kilometer (1.6 mile) section of the pipeline in the German Exclusive Economic Zone in water depths of less than 30 meters (100 feet).”
Besides Russian giant Gazprom, which has a majority stake in the project, the international consortium involved in the pipeline includes European players such as Germany’s Wintershall and Uniper groups, the Dutch-British giant Shell, France’s Engie and Austria’s OMV.
News of works resuming sent Gazprom’s stocks leaping 3.5 percent on the Moscow stock exchange.
German Chancellor Angela Merkel has held firm on the project despite facing heavy criticism within and outside Germany over it.
Besides the US, European nations like Poland, Ukraine and the Baltic states are also fiercely opposed to the pipeline, fearing it will increase Europe’s reliance on Russian energy supplies, which Moscow could then use to exert political pressure.
Following the poisoning of Russian opposition figure Alexei Navalny earlier this year, there had been speculation that Germany might pull the plug on the deal.
But sanctions imposed over the poisoning have so far steered clear of affecting the pipeline project.
Navalny was treated in a Berlin hospital and German authorities concluded that he had been poisoned with a rare Novichok nerve agent developed by Russian authorities, plunging relations with the Kremlin to a new low.
A Nordstream 1 pipeline, which runs along a similar route to Nordstream 2, was inaugurated in 2011.


Saudi POS spending jumps 28% in final week of Jan: SAMA

Updated 06 February 2026
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Saudi POS spending jumps 28% in final week of Jan: SAMA

RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors. 

POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity. 

Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million. 

Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million. 

Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million. 

Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week. 

The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week. 

In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million. 

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.  

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.  

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.