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Conflicts over Nord Stream 2 reignited
So far, however, the US has only imposed sanctions on the Russian company KVT-RUS, which owns the Russian pipe-laying vessel Fortuna.
US allies should not be surprised if the administration takes further action, Price said. Work on the pipeline had resumed in December after being suspended for nearly a year as a result of US sanctions. Construction between Russia and Germany is now almost complete.
German, Swiss, British firms back out
Most of the companies terminating their participation are insurance companies, the majority of which are based in the United Kingdom.
Among them are Munich-based insurer Munich Re Syndicate Limited and Switzerland-based Zurich Insurance Group. Axa Group, based in Paris, and civil engineering group Bilfinger of Mannheim have also terminated their involvement, according to the US State Department.