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Nord Stream 2 files for bankruptcy

Lena Hunter
March 2nd, 2022


This article is more than 2 years old.

The Swiss-based, Russian-owned firm has fired all 106 employees, confirms Swiss radio broadcaster SRF

The outlook is bad for the beleaguered Nord Stream 2 project (photo: Nord Stream 2 / Wolfram Scheible)

The Swiss-based company behind the 75 billion kroner Nord Stream 2 gas pipeline has filed for bankruptcy and fired all of its employees following western sanctions, according to Swiss radio broadcaster SRF.

Nord Stream 2 AG, which is owned by the Russian state-owned gas giant Gazprom, is looking to settle its bankruptcy claims ahead of a US sanction deadline that will bar other entities from dealing with it.

“Following the recent geopolitical developments leading to the imposition of US sanctions on Nord Stream 2 AG, the company had to terminate contracts with employees. We very much regret this development,” explained a spokesperson to Reuters.

Gazprom’s European partners in the Nord Stream 2 project included Uniper, Shell, Wintershall Dea, Engie and OMV.

A build-up of international pressure
Last week, German Chancellor Olaf Scholz suspended the certification of the 1,230 km natural gas pipeline in response to Russia’s escalating invasion of Ukraine after mounting pressure from EU neighbours and the US.

Washington DC has been arguing for years that constructing another gas pipeline between Germany and Russia – especially one that bypasses Ukraine – will increase Europe’s reliance on Russian energy supplies.

Earlier this month, Ukrainian President Volodymyr Zelensky called for the pipeline to be suspended “immediately”.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”