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Germany isn’t approving Swiss registered Nord Stream 2 until its main assets and human resources are moved to Germany. The main reasons for this would seem to be issues of liability, taxation, transparency, and, if Russia attempts to shut down the pipeline, then Germany can seize assets. Nord Stream 2 is registered in Zug, Switzerland, known for its letter box companies. Thus, this looks like an all around smart move for Germany.

The head of Nord Stream 2 is the old Stasi friend of Putin, Matthias Warnig. It appears to have been registered in Zug, Switzerland to shield it from high EU taxes, and liability. Russia is trying to spin this as something to do with the US. However, recall that Biden Sec. of State Tony Blinken waived US Congressional sanctions against Warnig. To say that Blinken’s stepfather, Sam Pisar, was very Russophile is a huge understatement: https://www.state.gov/nord-stream-2-and-european-energy-security/

Press Release from the German government:
Certification procedure for Nord Stream 2 suspended Year of issue 2021
Date of issue 2021.11.16
The Bundesnetzagentur has today suspended the procedure to certify Nord Stream 2 AG as an independent transmission operator.

Following a thorough examination of the documentation, the Bundesnetzagentur concluded that it would only be possible to certify an operator of the Nord Stream 2 pipeline if that operator was organised in a legal form under German law.

Nord Stream 2 AG, which is based in Zug (Switzerland), has decided not to transform its existing legal form but instead to found a subsidiary under German law solely to govern the German part of the pipeline. This subsidiary is to become the owner and operator of the German part of the pipeline. The subsidiary must then fulfil the requirements of an independent transmission operator as set out in the German Energy Industry Act (sections 4a, 4b, 10 to 10e EnWG).

The certification procedure will remain suspended until the main assets and human resources have been transferred to the subsidiary and the Bundesnetzagentur is able to check whether the documentation resubmitted by the subsidiary, as the new applicant, is complete. When these requirements have been fulfilled, the Bundesnetzagentur will be able to resume its examination in the remainder of the four-month period set out in law, produce a draft decision and deliver it to the European Commission for an opinion, as provided for in the EU legislation on the internal market.

The Federal Ministry for Economic Affairs and Energy (BMWi) and the European Commission were informed in advance. The parties involved in the proceedings were notified of the decision, which was then published.
Press release (pdf / 124 KB)