Nord Stream 2, based in the city of Zug in central Switzerland, has laid off more than 140 people, Swiss Economy Minister Guy Parmelin told RTS radio on Monday night.
Swiss Minister Guy Parmelin announced the news about the reduction in employment, answering a question about the possible economic consequences for Switzerland of Russian aggression in Ukraine.
Mass layoffs at Nord Stream 2 in Zug are a direct result of Germany’s suspension last Tuesday of the certification of a gas pipeline connecting Russia with Germany, bypassing Poland and the Baltic countries, the politician stressed.
The 1,230 km pipeline runs under the Baltic Sea and was completed in November last year, but has not yet been put into operation.
Der Preis der Sanktionen: Nord Stream 2 entlässt in Zug 140 Angestellte https://t.co/ATvY5vJB4N via @luzernerzeitung
— Arno Grüter (@arnogrueter) February 28, 2022
The US has imposed sanctions on the company in Zug, according to the Swiss daily newspaper Luzerner Zeitung.
Nord Stream 2, based in Zug, is wholly owned by the Russian company Gazprom.