Bankruptcy for the operator of the German-Russian Nord Stream 2 pipeline

SARAJEVO, (Patria) - The operator of the German-Russian Nord Stream 2 pipeline has become a victim of retaliatory measures taken by Berlin after the start of the Russian invasion of Ukraine, and today it had to go bankrupt, while employees were laid off.

The company Nord Stream 2 AG, based in the Swiss canton of Zug, has filed for bankruptcy, and 106 employees have been dismissed, local official Silvia Thalmann-Gut told Swiss media.

"We were informed today that the company cannot continue its operations and had to file for bankruptcy, and the employees were laid off," she stated.

The Nord Stream 2 pipeline was defended for years by former German Chancellor Angela Merkel at the cost of strong tensions, especially with the USA, which saw the pipeline as a means for Russian President Vladimir Putin to blackmail Germany on energy issues.

German Chancellor Olaf Scholz stated on February 22, on the eve of the Russian invasion of Ukraine, that his country had taken steps to halt the Russian-German Nord Stream 2 pipeline project.

The pipeline was completed at the end of 2021, but had not yet been put into operation for administrative reasons.