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18 companies withdraw from Nord Stream 2 project

Source : 112 Ukraine

The list includes AXA Group, Baker Hughes and another 16 enteprises
11:43, 26 February 2021

Nord Stream 2

French insurance and investment group of companies AXA Group left the project of Nord Stream 2 pipeline construction. AXA Group's Chief Risk Officer Alban de Mailly Nesle reported that at a press conference as quoted by DW.

According to the official, the French group made the decision following the similar moves made by other companies. He did not specify the reasons for such a decision.

It became known that another 17 companies refused from further cooperation within this project.

Reuters cited the U.S. Department of the State, which has been applying sanctions against the companies involved in construction of the pipeline. "Ned Price, the State Department spokesman, told reporters this week the fact that the companies quit with sanctions looming “demonstrates that the legislative goals and our actions are having a good effect.” He said the State Department continues to “examine entities involved in potentially sanctionable activity.” Price has also said “sanctions are only one” of many tools in response to Nord Stream 2", reads the article.

Related: European companies back out of Nord Stream 2: US report

In December 2019, the U.S. introduced sanctions against the companies laying the Nord Stream 2 pipeline, and Gazprom, the Russian gas monopolist decided to finish the construction works only with Russia's production capacities.

Related: Is there a hydrogen future for Nord Stream Two?

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