Skip to content
Subscriber Only

U.S. Targets Insurers In Latest Round of Nord Stream 2 Sanctions

  • Firms that certify ships also would be hit by new legislation
  • Measures are aimed at punishing companies that help Gazprom
Construction of Nord Stream's EUGAL Pipeline Compressor Site
Photographer: Krisztian Bocsi/Bloomberg
Updated on

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 agreed to target insurers and technical certification companies working on the project in a defense bill that must pass by the end of the year, according to three people familiar with the matter. The move would add to penalties that stopped work on the natural gas link under the Baltic Sea just a few weeks before it was to be completed.