financetom
Business
financetom
/
Business
/
Nord Stream insurers say policies did not cover war risks, Kommersant reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nord Stream insurers say policies did not cover war risks, Kommersant reports
Apr 18, 2024 12:17 AM

MOSCOW, April 18 (Reuters) - Insurance policies for the

Nord Stream gas pipelines damaged by blasts in 2022 did not

provide for coverage in the case of war, Kommersant daily

reported on Thursday, citing documents filed at London's High

Court.

Nord Stream is seeking more than 400 million euros ($427

million) from its insurers over the explosions which ruptured

pipelines designed to transport Russian gas to Germany. It named

Lloyd's Insurance Company and Arch Insurance (EU) DAC

as defendants in the suit.

Sweden - which in February dropped its investigation - and

Germany have both found traces of explosives relating to the

incident that ruptured the Nord Stream 1 and Nord Stream 2

pipelines, suggesting it was a deliberate act.

Kommersant daily, citing the court documents, said the

insurance did not cover damages directly or indirectly resulting

from war, military actions or detonation of explosives.

Gazprom, Nord Stream AG, Lloyd's and Arch did not

immediately reply to requests for comment.

Russia and the West, at loggerheads over Moscow's conflict

with Ukraine, have pointed fingers at one another. Each has

denied any involvement, and no one has taken responsibility.

($1 = 0.9359 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved