18 European companies withdraw from Nord Stream 2 project

At least 18 European companies have withdrawn or pledged to withdraw from construction of the Nord Stream 2 pipeline in fear of US sanctions, according to a report by the US State Department.

The US State Department’s report shows that most of the companies that withdraw from participation in the construction of the Nord Stream 2 gas pipeline are insurance groups, mostly based in Great Britain. According to the report, among the companies that have either withdrawn from the project or announced to do so are also German companies Bilfinger and Munich Re Syndicate Limited.

So far, the United States has imposed sanctions only on the Russian company KWT-Rus, which operates the ‘Fortuna’ vessel participating in the construction of the pipeline. The company and its vessel were also included in the new report.

The report, signed by US Secretary of State Antony Blinken, refers to the attitude of the German government, which "continues to fully support the Nord Stream 2 project" and "firmly rejects the US sanctions calling them an attack on the sovereignty of Germany and the EU."

The construction of the Russian-German gas pipeline is strongly opposed by Poland, the Baltic States, and the USA. Critics of Nord Stream 2 indicate that the project would increase Europe's dependence on Russian gas and extend the Kremlin's influence over European politics. The project is supported by Germany, Austria and several other EU Member States.