The company may give notice of insolvency.
The Swiss operator (Nord Stream 2 AG) of Russia's Nord Stream 2 gas pipeline is considering filing for bankruptcy as it seeks to settle its obligations before the start of US sanctions.
This was reported by Reuters, citing sources.
The US imposed sanctions on Nord Stream 2 AG last week after Russia recognized the independence of the so-called LDNR in eastern Ukraine.
Nord Stream 2 AG is cooperating with a financial adviser to pay off its obligations and may officially begin bankruptcy proceedings in a Swiss court as early as this week.
Nord Stream 2 AG, owned by Russia's state-owned Gazprom, completed a $11 million gas pipeline last year to boost gas supplies from Russia to Germany.
Gazprom financed half of the construction cost of Nord Stream 2, while the rest of the project was financed by the British oil and gas company Shell, the Austrian OMV, the French Engie and the German Uniper and Wintershall DEA.
The gas pipeline did not start working because the German regulator suspended its certification process due to Russia's invasion of Ukraine.
Swiss Economy Minister Guy Parmelin said on Monday in an interview with the Swiss radio RTS that the entire staff of Nord Stream, more than 140 employees who worked for the company in the Swiss city of Zug, have been laid off.
Recall that the US Department of the Treasury officially introduced sanctions against the operator of Nord Stream 2, Nord Stream 2 AG, as well as CEO Matthias Warnig.
To reduce dependence on Russian natural gas, Germany plans to build two liquefied gas terminals. In addition, it is planned to create a stock of coal and gas in the country.
Losses of Russians fighting against Ukraine:
According to the tentative data of the General Staff of the Armed Forces of Ukraine, from the morning of February 24 to 6:00 on February 28, the troops of the invading country of Russia suffered the following losses:
