A large group of shipping insurers will refuse to insure vessels participating in the construction of Nord Stream 2, as companies worry that providing services for builders puts them at risk of violating US sanctions.
The decision made by the thirteen members of the International Group of P&I Clubs, who collectively provide marine liability cover for approximately 90% of the world’s ocean-going tonnage, will seriously complicate the pipeline’s construction process, which is already 90% complete.
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