U.S. sanctions on Russia News

Biden Administration Warns Firms to Quit Aiding Nord Stream 2 Pipeline

The U.S. State Department is tracking efforts to complete Russia’s Nord Stream 2 natural gas pipeline and evaluating information on entities that appear to be involved, U.S. Secretary of State Antony Blinken said on Thursday. “Any entity involved in the …

15 Insurers Stop Doing Business with Nord Stream 2 Pipeline to Avoid Sanctions: Reuters

Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia’s Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was …

Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions

A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction …

Future of Russia’s Nord Stream 2 Pipeline Looks Increasingly Uncertain

The future of Nord Stream 2 looks increasingly uncertain as the U.S. ramped up pressure on the project with new sanctions, and companies walked away from the controversial Russian gas link. The new sanctions come just days before work on …

Zurich Insurance to Stop Insuring Russia’s Nord Stream 2 Project: Sources

Zurich Insurance Group will drop out of Russia’s Nord Stream 2 project in the face of looming U.S. sanctions against European companies that support construction of the $11 billion gas pipeline, two sources familiar with the situation said. The U.S. …

Zurich Insurance Emphasizes Compliance Standards as U.S. Eyes Nord Stream Sanctions

Zurich Insurance Group emphasized its compliance standards on Wednesday while declining to comment specifically on the Russia-led Nord Stream 2 gas pipeline project. The U.S. State Department has warned European companies involved in Nord Stream 2 that they risk sanctions …

Russia Expedites Work on Nord Stream 2 Gas Pipeline Before U.S. Tightens Sanctions

Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany. Construction of the 1,230-kilometer (764-mile) pipeline reached a milestone on Monday with …

U.S. Sanctions to Target Insurers In Fight Against Russia-to-Germany Nord Stream 2

The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost a year. House and Senate negotiators …

Citing U.S. Sanctions, Insurers Won’t Cover Ships For Russia, Turkey Pipelines Projects

The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to the International Group of P&I Clubs, including …

Investors, Insurers Warned of Risk of U.S. Sanctions for Russian Pipeline Ties

U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and Turkey. Pompeo told a …