Nord Stream 2 gas pipeline operator declares bankruptcy | News

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The company Nord Stream 2 AG, operator of the Nord Stream 2 gas pipeline, declared bankruptcy on Tuesday after laying off hundreds of its employees, due to the sanctions applied by the United States (USA) and European countries against Russia.


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Before local Swiss media, the head of the Economic Department of the canton of Zug, Sylvia Talman-Gut, declared that the company was insolvent and therefore cannot provide a social plan.

The company official explained that the company could not continue working due to the sanctions imposed by the government headed by Joe Biden and had to fire 106 employees.

After Russia recognized the independence of the Donetsk and Lugansk territories, German Chancellor Olaf Scholz announced that Berlin was suspending the certification of the Nord Stream 2 gas pipeline.

The White House ordered on February 23 the imposition of sanctions on the operator of Nord Stream 2, Nord Stream 2 AG, and its directors.

This subsidiary (awarded in Switzerland) of the Russian company Gazprom, completed a project of more than 11,000 million dollars to build a gas pipeline from Russia to Germany that would double gas exports.

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