Business

18 European companies have already withdrawn from the Nord Stream 2 project

Insurance companies massively refuse to help build the pipeline

At least 18 European companies have already withdrawn or have pledged to end their participation in the controversial Nord Stream 2 pipeline project following the expansion of US sanctions against Russia.

This was reported by the German newspaper Tagesspiegel with reference to the report of the US Secretary of State to Congress.

These companies included the German industrial and construction services provider Bilfinger from Mannheim and the insurer Munich Re Syndicate Limited.

Basically, we are talking about insurance companies with headquarters mainly in the UK. In addition, the list includes Zurich Insurance Group and Paris-based Axa Group.

Recall that in mid-January, the Swiss insurance company Zurich Insurance refused to participate in Nord Stream 2 due to the risk of falling under new US sanctions.

It was also reported that in September 2020, other leading international insurers refused to work with Nord Stream 2.



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