**Nord Stream pipelines remain offline due to extensive 2022 sabotage damage, binding EU sanctions enacted in 2025 that prohibit related transactions, and explicit German government policy against resuming Russian gas imports.** Berlin has repeatedly stated it will not return to energy dependence on Russia, citing security risks and successful diversification to LNG and other suppliers. One undamaged Nord Stream 2 string is claimed operational by Russia, yet sanctions, certification requirements, and repair needs block any restart. Recent U.S.-Russia discussions on potential American investment, linked to Ukraine peace efforts, have not altered European opposition or sanction regimes. With the EU targeting a full phase-out of Russian pipeline gas by late 2027, traders see negligible chance of flow resumption before year-end 2026 absent rapid, coordinated political reversals that currently lack momentum.