"We suffered certain losses from the refusal of our European partners to return to this project,” Putin said. “Mere intentions are not enough now, we need absolutely ironclad guarantees of a legal nature. They do not exist.”
The European Commission was against the implementation of the South Stream as the project was allegedly in breach of the EU third energy package, under which one and the same company cannot own the gas and operate the pipeline. On December 1, 2014, Russian President Vladimir Putin announced that Russia would halt the implementation of the South Stream.
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