Nord Stream 2 files for bankruptcy

The Swiss company behind the DKK 75 billion 2 gas pipeline has filed for and fired all its employees after Western sanctions, according to Swiss radio station SRF.

Nord Stream 2 AG, which is owned by the Russian state-owned gas giant Gazprom, is seeking to settle its bankruptcy claims ahead of a US sanction deadline that will prevent other entities from dealing with it.

“Following the recent geopolitical developments that led to the imposition of US sanctions on Nord Stream 2 AG, the company had to terminate contracts with employees. We very much regret this development,” a spokesman told .

Gazprom’s European partners in the Nord Stream 2 project included , Shell, Wintershall Dea, Engie and OMV.

A build-up of international pressure
Last week, German Chancellor suspended the certification of the 1,230 km long pipeline in response to Russia’s escalating invasion of following rising pressure from EU neighbors and the .

Washington DC has been arguing for years that the construction of another gas pipeline between Germany and Russia – especially one that bypasses Ukraine – will increase ’s dependence on Russian energy supplies.

Earlier this month, Ukrainian President called for the pipeline to be suspended “immediately”.

Source: The Nordic Page

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