Close associates of Russian President Vladimir Putin and figures linked to former U.S. President Donald Trump have reportedly engaged in secret talks to restart the Nord Stream 2 gas pipeline.

The undersea pipeline, built to transport Russian gas to Western Europe, was severely damaged by explosions in September 2022 and has remained non-operational.

According to a Daily Mail report, if negotiations succeed, U.S. investors could acquire a stake in the pipeline’s operating company, profiting if Russian gas shipments resume, pending sanctions relief after a Ukraine ceasefire.

Matthias Warnig, a former East German intelligence officer and Putin confidant, is reportedly brokering the talks. Richard Grenell, Trump’s former ambassador to Germany, and businessman Stephen Lynch have been named as U.S. participants. Both Grenell and Warnig deny involvement, while Lynch has not commented.

Reviving Nord Stream 2 faces major hurdles. Only one of its two strands remains intact, and repairs could exceed $100 million. The operating company is under financial strain, with just two months to present a debt repayment plan. Meanwhile, political resistance remains strong. 

Germany suspended Nord Stream 2’s certification before Russia’s 2022 invasion of Ukraine and shows no interest in its revival. Any attempt to restart the project would likely face opposition from Berlin, Ukraine, and European allies.

Trump’s reported willingness to reconsider Nord Stream 2 marks a shift from his first term, when he opposed the pipeline. With a potential return to the White House, the discussions hint at possible changes in U.S. policy toward Russia and energy relations. However, any deal is expected to face intense scrutiny.