"The companies Nord Stream and Nord Stream 2 are economically dead. Their gas pipelines lie largely in ruins at the bottom of the Baltic Sea. No gas is flowing, the raw material rubles have not been rolling in for almost 1.5 years.
Actually, the companies should have deposited their balance sheets long ago. And yet there is activity at both headquarters in Zug and Steinhausen/ZG. How can that be?...
...At least some information can be found out about Nord Stream 2. The company was founded in Zug in 2015 under the name “New European Pipeline”. That was 10 years after the first Nord Stream company started operations, then as the “NEGP Company”...
...Nevertheless: it continues to exist. On January 10, 2024, the debt moratorium was extended for the third time. The company even moved its headquarters after the sabotage, from offices in Zug to its own building in neighboring Steinhausen...
[MRT: The early Setember´s SUI court decision to allow for the Out-of-bankruptcy may have been the trigger to blow a decisive strike to the company, it has not folded yet. Note that just fees from transport of Russian gas via Ukraine bring €2 Billion yearly to Ukrainian budget. The saving from reopening the ole live pipeline could be tremendous. ROI just about 4 years (!)]
...Philipp Possa writes: “The company maintains the necessary personnel to secure the pipeline and possible health, safety and environmental risks.”
Switzerland has not accepted the sanctions. The company is not restricted in its business activities in this country.
“If you wanted to adopt US sanctions, the Federal Council would have to decide.”
Switzerland only accepts UN sanctions because they are legitimate under international law and Switzerland itself is a UN member.
[MRT: Unilateral sanctions are kind of illegal, only UN sanctions shall be adopted by states. Actually The legal Act of Retorsion (anti-sanctions) do allow Gazprom to stop all deliveries would they decide to do so. Here is the legal paper about this - post]
The other thing remains, the first Nord Stream company. It is not subject to any sanctions. Like Nord Stream 2, it is majority owned by the Russian energy company Gazprom. However, a number of European energy companies are still involved in Nord Stream.
[MRT: Actually this is partially incorrect, the Gazprom´s Novak said in spring 2022 that sanctions are such mess that it causes serious issues to fid out what is allowed and what is not and severely restricts operations of NS1 - this was seen also with maintenance work on turbines]
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