A High Court ruling bars Nord Stream AG from recovering insurance payouts after pipeline sabotage, citing standard war-risk clauses.
A UK High Court judge ruled against Nord Stream AG’s bid to recover $662 million in insurance claims for the 2022 sabotage of its gas pipeline. The court upheld insurers’ war-risk exclusion, absolving Lloyd’s and Arch of liability for the damage.
The ruling rejected Nord Stream AG’s argument that an anchor, not explosives, caused separate pipeline damage. Legal analysts say the decision sets a precedent for similar disputes involving war-related exclusions in insurance contracts.
No immediate market reaction was reported, but the case may influence future energy infrastructure insurance policies.