The management company of the German-Russian Nord Stream 2 natural gas pipeline, based in the Swiss canton of Zug, has filed for bankruptcy and laid off its 106 employees, Sylvia Thalmann-Gut, who is responsible for the canton's financial affairs, in an interview with public television.
«We were informed today that this company could not continue,» said Talman-Gut. «It was forced to declare bankruptcy and its employees received their termination letters,» she explained to SRF.
The United States imposed sanctions on Nord Stream 2 AG last week, following Russia's recognition of the two breakaway republics of Donbas, a prelude to Russia's invasion of Ukraine. A wave of Western economic sanctions followed.
