the Operating company of the German-Russian gas pipeline Nord Stream 2 is according to information from Switzerland broke. Nord Stream 2 AG, based in Zug, had become “insolvent” last week “because of the sanctions from the USA”, said the government councilor of the canton of Zug, Silvia Thalmann-Gut, on the SRF broadcaster. A week ago, the United States imposed sanctions on the company because of the conflict with Russia.
“We were informed today that this business cannot continue”the politician told the broadcaster. All employees received notice of termination and would now be informed of their rights and obligations. She also cannot rule out that other companies based in Switzerland “will be affected”.
Nord Stream 2 AG is the transmission system operator of the pipeline. Even before Russia invaded Ukraine, the federal government had put the controversial project on hold because of the conflict.