JRL NEWSWATCH: “Insurance Agencies Would Love to Know Who Blew Up Nord Stream” – Foreign Policy
“An era of gray zone warfare and sabotage creates tough financial questions.”
“Western European companies invested billions of dollars in the pipelines. Whether their insurance will cover the losses caused by the sabotage depends on who perpetrated it. And as the global geopolitical standoff intensifies, companies face many more enormous losses, hunts for the perpetrator, and disputes about whether the harm was an act of war. … Four Western European energy companies own 49 percent of Nord Stream 1, whose construction cost 7.4 billion euros ($7.9 billion). Germany’s E.ON and Wintershall Dea own 15.5 percent each, and France’s Engie and the Dutch firm Gasunie own 9 percent each. Russia’s Gazprom owns the rest, and it also owns Nord Stream 2 — but the Western European group provided 50 percent of Nord Stream 2’s $10.3 billion financing. With the pipelines unusable, the companies are trying to recover at least some of the billions …. An era of confrontation without formal conflict is a mess—especially legally. In the unlikely event that the perpetrator is identified beyond reasonable doubt, the companies involved and their insurers will still need to settle the definition of war—a question that has puzzled philosophers and strategists for millennia. This may need to be hashed out in future courts. At the moment, war is defined by New Jersey Superior Court.”
Click here for: “Insurance Agencies Would Love to Know Who Blew Up Nord Stream; An era of gray zone warfare and sabotage creates tough financial questions” – Foreign Policy/ Elisabeth Braw
Insurance Agencies Would Love to Know Who Blew Up Nord Stream
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