The company said it prioritizes compliance with economic sanctions and US law.
Zurich Insurance said in a statement that the company has worked closely with the US State Department to discuss sanctions against Nord Stream 2.
“We have terminated all of our insurance coverage that was subject to sanctions under the National Defense Law of 2021, passed in January,” the Swiss company said in a statement.
Earlier Bloomberg wrote that Zurich Insurance decided to refuse to insure the Nord Stream 2 gas pipeline due to US threats.
On January 19, the United States imposed sanctions on the ship Fortuna, which laid the Nord Stream 2 gas pipeline.