Swiss-based Zurich Insurance Group has confirmed to Sputnik its withdrawal from the Nord Stream 2 project
"Zurich places the highest priority on compliance with economic sanctions, including U.S. law. We have been in close coordination with the U.S. Department of State to discuss the sanctions on the Nord Stream 2 pipeline and we have terminated all of our insurance coverages that were sanctionable under the National Defense Authorization Act for 2021, passed into law in January. Zurich does not believe it faces any sanctions exposure from the U.S. government or any other regulator with respect to the Nord Stream 2 pipeline. Zurich will continue to work closely with the State Department and all other regulators worldwide to ensure that all of our activities are compliant with applicable laws and regulations," the company said in a statement.