Nord Stream 2 AG does not confirm bankruptcy filing

The owner of the Nord Stream 2 pipeline – the Swiss-registered Nord Stream 2 company has announced that it does not confirm media reports that it has filed for bankruptcy.

According to a statement posted on Nord Stream 2 AG’s website, the company does not confirm that it has filed for bankruptcy. It only confirmed that it had informed local authorities that it was forced to terminate the employment contracts of its employees as a result of recent events leading to sanctions being imposed on it by the US.

It also reported that the company had to shut down its website due to “severe and continuous external attacks,” and that the site is now only operating on a limited basis.

On Tuesday, media reported that Nord Stream 2 AG has laid off 140 employees, is settling liabilities, and that formal bankruptcy proceedings could begin in a Swiss court this week.

Nord Stream 2 AG is owned by Russia’s Gazprom. The Nord Stream 2 pipeline has been completed and prepared for operation, but the German regulator has halted the process of certifying it as the operator of part of the pipeline for formal reasons.

On February 22, German Chancellor Olaf Scholz announced that the Ministry of Economic Affairs would withdraw its opinion, which is necessary for the operator certification process, from the regulator. On February 23, U.S. President Joe Biden imposed sanctions on Nord Stream 2 – a ban on any transactions with the company or any entity it owns directly or indirectly, as well as with entities in which it would own more than half of the shares. The Americans imposed a similar ban on Nord Stream 2 AG director Matthias Warnig.

The day after the U.S. sanctions were imposed, Russia launched an armed aggression against Ukraine.


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