Russia will lose tens of billions of dollars if a pipeline project to transport gas to Germany is abandoned, said Wolfgang Ischinger, an ex-German ambassador.
There's no way that Russia wants its traditional revenue source to be hit, Ischinger told CNBC's Hadley Gamble on Tuesday.
"It is an item of leverage. I think Russia definitely has an interest to continue its income sources from providing gas and oil … to its western European partners," he said. "We need to handle it carefully, but smartly."Key to watch is the shift in political tone coming from Germany, the Nord Stream 2 pipeline's final destination.
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