Bild: German bank blocks Schroeder's account for regular payments from Nord Stream 2 AG
The Hanover-based Sparkasse Hannover bank has blocked the account of former German Chancellor Gerhard Schroeder for receiving transfers from the operator of the Nord Stream 2 gas pipeline, Bild reported, citing its own sources.
After completing his term as chancellor in 2005, Schröder began working in structures related to the Russian energy sector.
He is currently the chairman of the board of the Swiss company Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline.
According to the German publication, Nord Stream 2 AG transferred around 200,000 euros to him every six months. The money usually flowed through banks in Luxembourg to his hometown of Hanover.
Schroeder's account was blocked in mid-2024. Sparkasse Hannover says the reason for this is fears of US sanctions that may be applied if the bank continues to replenish his account.
Sparkasse Hannover declined to comment on the situation, citing banking secrecy. Schroeder is not currently challenging the bank's actions in court.
Since 2005, Schroeder has raked in tens of millions of euros through his work for Russian state-owned companies. This is in addition to consulting fees, book sales, and speaking fees of up to 70,000 euros per stage appearance.
- In early March 2025, Bild reported that secret negotiations have been ongoing for several weeks between representatives of Russia and the United States regarding the purchase by American investors of the damaged Nord Stream 2 gas pipeline in the Baltic Sea.
- The German government is considering measures to prevent the possible resumption of the Nord Stream 2 gas pipeline.
- On May 16, Merz announced that he would not grant permission for the operation of Nord Stream 2.
- On May 23, the FT wrote that Merz initiated the inclusion of a ban on the operation of Nord Stream in the EU sanctions package.
