Feb 23, 2021
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German insurance company refused to cooperate with the project SP-2

The German company Munich Re Syndicate refused to cooperate with the Nord Stream-2 project, TASS reports.

A representative of the parent company Munich Re confirmed the withdrawal of the subsidiary from the agreement, but he did not name the reasons for this decision.

Earlier, Reuters reported that a subsidiary of Munich Re will stop providing insurance services for the pipeline construction due to the threat of US sanctions.

Note that the provision of insurance services subject to American sanctions in connection with JV-2 was also terminated by the Swiss company Zurich Insurance Group.

Recall that the United States adopted a number of laws imposing sanctions against participants in the SP-2. More than 15 legal entities “made good faith efforts” to wind down activities related to the construction of the pipeline, according to the head of the press service of the State Department Ned Price.

Earlier, the US State Department called the sanctions against SP-2 working.

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