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The organization noted that maintaining the ships could put IG P&I at risk of US sanctions. Photo: RIA Novosti
Ships involved in the construction of the Nord Stream 2 pipeline will not receive insurance coverage from the International Group of Ship Owners Mutual Insurance Clubs (IG P&I). This decision was made due to the threat of US sanctions.
This is stated in the organization’s circular, published on Monday, September 21.
It is reported that the maintenance of the ships involved in the construction of the Nord Stream 2 pipeline could put IG P&I at risk of US sanctions.
“In light of the threat of direct sanctions to insurers posed by the CAATSA (Countering American Adversaries Through Sanctions) and US PEESA (Protection of European Energy Security) laws, the club will not provide insurance coverage for activities related to the project “. Nord Stream 2 “or” Turkish Stream “, says the circular.
Furthermore, the document says that to avoid penalties, the organization’s participants were asked to “assess and minimize the risks of concluding contracts for Nord Stream 2 or Turkish Stream.”
We recall, recently the United States announced the creation of a coalition to prevent the completion of the gas pipeline.
In turn, Germany offered to build terminals for US liquefied gas in exchange for exemption from US sanctions.
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