Company laying pipes for Nord Stream 2 withdraws vessels from Baltic Sea – report

Allseas, a Swiss-Dutch company that has been laying underwater tubes for the German-Russian Nord Stream 2 pipeline off the Danish coast, has withdrawn both of its pipelaying vessels from the Baltic Sea, Bloomberg news reported.

Allseas announced its decision to wind down operations at the bottom of the Baltic Sea and exit the $11 billion project just before US President Donald Trump signed the 2020 national defense spending bill on Friday, introducing harsh sanctions for the companies involved in the construction of the flagship pipeline. The sanctions would have seen the company’s assets in the US frozen, employees’ visas revoked and the firm itself being put on the blacklist.

Germany and Russia have been up in arms over the fresh sanctions crackdown, with Berlin denouncing the move as interference in its domestic affairs. Moscow has, meanwhile, said that the project, that is in its final stages, will be completed regardless.

The EU Commission also emphasized that EU states are against any sanctions targeting its companies legally doing business after the US rolled out a package of penalties against firms participating in the Nord Stream 2 pipeline project.

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