Tuesday, February 23, 2021

18 European companies refuse to build ‘Nord Stream 2’


18 European-based companies have announced that they have suspended their participation in the Nord Stream 2 gas pipeline project or are in the process of withdrawing from it due to the threat of US sanctions, Deutsche Welle reports.

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“It shows that the goals of the legislation and our work were successful. We continue to track down companies involved in potentially sanctioned activities,” commented Ned Prais, a spokesman for the US State Department.

Most of the companies leaving the project are British insurance companies. It is also the German company Bilfinger, which provides industrial services, and the insurance company Munich Re Syndicate Limited.

According to the US State Department, the Swiss Zurich Insurance Group and the Paris Axa Group have also withdrawn from the project.

The US allies should not be surprised if further action is taken against the construction of the pipeline, says Praise.

The Nord Stream 2 gas pipeline between Russia and Germany, which bypasses Ukrainian territory, was scheduled to be completed by the end of 2019.

The completion of the pipeline has been hampered by US sanctions. Critics see Nord Stream 2 as a Kremlin political project that will increase Europe’s energy dependence on Russia and harm Ukraine. Not only Ukraine, but also Poland and the Baltic States oppose the project.

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