The takeover of Nord Stream insurance in Germany aims to compensate for the losses of the companies that have invested there. There should be no illusions about the rehabilitation of the gas pipeline. This was stated in an interview with Zvezda political scientist and journalist Yuri Svetov.
“There should be no illusions about the preservation of the gas pipeline. They are now thinking about completely different things: how to compensate for the losses suffered by the German company associated with the Nord Streams… The losses are quite serious,” he said.
Svetov explained that companies that have lost money can now sue, and the German government is considering how to transfer those payments to insurers, or recognize such cases as not subject to insurance.
The interlocutor added that the statements of politicians in Germany clearly indicate that the country will use Russia’s energy resources more. This position will remain unchanged until another example is set in Washington, Svetov believes.
Earlier, German insurance companies Allianz and Munich Re took over insurance for the Nord Stream gas pipeline, which was halted in late September last year due to an explosion. It should be noted that the policy covers physical damage to infrastructure, as well as economic problems caused by the cessation of activities. According to Reuters, the insurance will also simplify the repair process needed to resume gas supplies from the bottom of the Baltic Sea to European countries.
Political scientist Svetov: German authorities decided to transfer losses from JV explosion to insurers
