Insurance Companies Refused to Work with Vessels Building Nord Stream 2
OREANDA-NEWS. An international group of shipowners’ mutual insurance clubs decided not to provide insurance coverage to ships that may participate in the construction of the gas pipeline Nord Stream 2. This is stated in a document distributed on behalf of all the clubs of the group. It notes that the activities of such vessels are illegal and puts the group in danger of violating sanctions.
“In view of the direct sanctions threat posed to insurers by CAATSA and PEESA [Countering America’s Adversaries Through Sanctions Act and Protecting Europe’s Energy Security Act. – Ed.], there will be no Club cover for any activity involving or related to the Nord Stream 2 or Turk Steam construction projects,” the document reads.In late July, the US Senate approved a draft military budget, including toughening existing sanctions against Nord Stream 2. In September, the US State Department called on Germany to reconsider relations with Russia regarding the implementation of the gas pipeline project due to the poisoning of opposition leader Aleksey Navalny.