Swiss authorities announced the start of bankruptcy proceedings for the operator of Nord Stream 2. The company itself denied this

Updated . Nord Stream 2 AG called the announcement of the launch of bankruptcy proceedings false, saying that it only informed local authorities about the forced termination of contracts with personnel, Interfax writes with reference to the press service of Nord Stream 2 AG.

Nord Stream 2 AG, operator of the Nord Stream 2 gas pipeline, has filed for bankruptcy. This was reported to the Swiss broadcaster SRF by the representative of the authorities of the canton of Zug Sylvia Thalmann-Gut.

“We were informed today that this company cannot continue to operate,” she said. According to her, 106 employees of the company received a notice of dismissal.

Earlier on March 1, Reuters reported , citing sources, that Nord Stream 2 AG was considering filing for bankruptcy due to US sanctions imposed against it.

• Nord Stream 2 AG, headquartered in the canton of Zug, built Nord Stream 2 and operates the pipeline. 51% of the company is owned by Gazprom.
• The Nord Stream 2 gas pipeline runs along the bottom of the Baltic Sea from the Russian Ust-Luga to the German Greifswald. It was completed in autumn 2021.
• On February 22, after Russia declared the independence of the self-proclaimed DPR and LPR, Germany stopped the process of certification of the gas pipeline. On February 23, the United States imposed sanctions against Nord Stream 2 AG, which provide for a ban on transactions with the company.