European companies continue to refuse to cooperate with Gazprom in the framework of the construction of the Nord Stream-2 pipeline.
On Tuesday, the German insurance group Munich Re, the largest in Germany on the reinsurance market and the second in terms of primary insurance transactions, announced its withdrawal from the project.
A subsidiary of the group – Munich Re Syndicate – announced the termination of insurance for Nord Stream 2 due to the threat of US sanctions, a company spokesman told Reuters.
The same information was confirmed by TASS at the head office of Munich Re. “The contractual relationship between Nord Stream 2 and our subsidiary Munich Re Syndicate Ltd has ended,” the insurer said, adding that “unfortunately we cannot comment on the reasons.”
Earlier, the Swiss Zurich Insurance Group refused to insure the construction site. In September, the International Group of P&I Clubs, or IG P&I, refused to work with Nord Stream 2. The association of 13 international maritime insurance clubs said none of its members would provide insurance coverage to ships involved in the construction.
On January 3, it became known that the Norwegian certification and classification company Det Norske Veritas (DNV GL) refused to participate in Nord Stream 2. After 10 days the Danish engineering corporation Ramboll left the project.
The United States will continue to monitor the Nord Stream 2 situation for possible new restrictive measures, White House spokeswoman Jen Psaki said in a briefing on Monday.
“Sanctions are just one of many important instruments for ensuring energy security,” she said, adding that Washington will “also work with allies and partners to strengthen Europe’s energy security.”
“We continue to monitor activities aimed at completing and certifying the pipeline project, and if such activities take place, we will decide on the applicability of the sanctions,” Psaki said.