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At least 18 European companies have withdrawn from the Nord Stream-2 project

Most of the companies that have terminated their participation in Nord Stream 2 are insurance groups.

At least 18 European companies have withdrawn from the Nord Stream-2 project

Washington, February 24 - Neftegaz.RU. In a report required by Congress, the U.S. State Department named at least 18 European companies that have terminated their participation in the Nord Stream 2 project or have pledged to withdraw from the project over threats of U.S. sanctions.
Among them are Munich Re Syndicate Limited and Zurich Insurance Group, Allseas, DNV-GL, Axa Group, Ramboll, Bilfinger of Mannheim.

Ned Price, a spokesman for the US State Department said:
  • The Biden administration is committed to using all available tools to counter Russian malign influence and to support transatlantic energy security goals
  • We have made it clear that companies risk sanctions if they are involved in Nord Stream 2 pipeline
  • This shows that the legislative goals and our actions have been successful
  • We continue to monitor companies involved in potentially sanctionable acts
U.S. officials are concerned that the Nord Stream 2 pipeline is anathema to energy diversity and security of the EU, the pipeline will increase Russia’s leverage in Europe and allow it to bypass a pipeline network that runs through Ukraine.
The U.S. and several European countries (Poland and Baltic states) oppose the $11 billion pipeline, which will double the capacity of natural gas Germany imports from Russia.

On 22 February, Lithuanian Foreign Minister Gabrielius Landsbergis participated in the Foreign Affairs Council, which focused on the EU-Russia relations.
The U.S. Secretary of State Antony Blinken also joined the meeting by video conference.

During the meeting G.Landsbergis called on the EU to suspend the Nord Stream 2 project until next Russian State Duma elections:
  • Let us give Vladimir Putin the opportunity to hold a free election to the State Duma this autumn with the participation of the opposition
  • Until then, let us stop the Nord Stream 2 pipeline!
It seems unlikely that Germany will abandon the project even under heavy pressure from America.
A high-ranking diplomatic source in Berlin explains to Rzeczpospolita:
  • Stopping Nord Stream 2 will not make Putin release A.Navalny because that would threaten his system of power
  • We need to maintain economic cooperation with Russia, otherwise the crisis in relations with Moscow may get out of hand, as it did at the beginning of World War I
  • The Soviet Union collapsed not only because it could not withstand the arms race imposed by Reagan, but also because there were forums for dialogue with Moscow such as the OSCE
To read the article in Russian.

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