Zurich Insurance tipped to drop out of Russian gas pipeline
As a backer of the Nord Stream 2 project, the Swiss insurer would be vulnerable to US sanctions
17 January 2021 - 18:50
Zurich/Washington — Zurich Insurance Group will drop out of Russia’s Nord Stream 2 project in the face of looming US sanctions against European companies that support construction of the $11bn gas pipeline, two sources familiar with the situation said.
The US state department in January told companies that it suspects are helping to build the pipeline that they face a risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, Reuters reported...
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