Allseas, a Swiss-Dutch company that has been laying underwater tubes for the German-Russian Nord Stream 2 pipeline off the Danish coast, has withdrawn both of its pipelaying vessels from the Baltic Sea, Bloomberg news reported.
Allseas announced its decision to wind down operations at the bottom of the Baltic Sea and exit the $11 billion project just before US President Donald Trump signed the 2020 national defense spending bill on Friday, introducing harsh sanctions for the companies involved in the construction of the flagship pipeline. The sanctions would have seen the company’s assets in the US frozen, employees’ visas revoked and the firm itself being put on the blacklist.
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