Nord Stream 2 operator lays off almost 150 employees in Switzerland

Nord Stream 2 AG laid off 140 employees from its office in Zug, Switzerland following the imposition of US sanctions. The company and its head Warnig were on the SDN sanctions list: it provides for the blocking of assets and isolation from the dollar system

After the suspension of the certification of the Nord Stream 2 gas pipeline and the imposition of US sanctions against the operator company Nord Stream 2 AG, the company fired all its staff in the Swiss city of Zug, the radio said RTS Swiss Economy Minister Guy Parmelin.

“Today we learned that all the staff who work at Nord Stream in Zug, that is, more than 140 people, have been fired,” Parmelen said (quoted from “RIA News”).

The US sanctions against Nord Stream 2 AG are related to the recognition by Russian President Vladimir Putin of the independence of the Donetsk and Lugansk People’s Republics. In addition to the company, the restrictions affected its chief executive Matthias Warnig.

The company and Warniga were placed on the SDN sanctions list, which provides for the blocking of assets and isolation from the dollar system. In addition, the Office of Foreign Assets Control (OFAC) of the US Treasury published a document according to which investors must complete transactions with the gas pipeline operator and the companies controlled by it by 12:01 US East Coast time (07:01 Moscow time) on March 2, 2022.