Nord Stream 2 project: U.S sanctions

According to Reuters, AXA and 17 other companies will not be sanctioned by the United States after the gradual reduction of their participation in the construction of the Nord Stream 2 gas pipeline.

The American Congress had recently extended to insurers the scope of the sanctions decided at the start of the project.

For the record, the Nord Stream 2 project deals with the construction of a 1230-kilometer gas pipeline linking Russia to Germany. The works, started in 2015, are estimated at 9.5 billion EUR (11.5 billion USD).

The project was initially launched by Gazprom, the Russian energy giant along with five European suppliers.

A first Nord Stream 1 gas pipeline linking Russia to Germany has been operational since 2011.