"We are waiting for the decision of the EU Commission regarding this issue and if the decision is positive and the sanctions are not imposed, Intesa Sanpaolo is ready to participate in the project," Fallico said.
Commenting on when Brussels will be ready to announce its decision Fallico noted that "at least after the presidential election in Russia it will become clear."
"I hope that German and French leaders have already realized that such restrictions are targeted not only against Russia, but Europe as well. If in line with the US sanctions the Nord Stream is blocked, EU economy will suffer great losses," the chairman warned.
The Nord Stream 2 project aims to deliver 55 billion cubic meters of Russian natural gas a year to the European Union across the Baltic Sea to Germany, bypassing Ukraine. In August, US President Donald Trump signed the bill allowing Washington to target European companies participating in Russian projects, such as Nord Stream 2.