Nord Stream and the Swiss authorities

Read the PDF edition (2 pages)

The Swiss federal authorities had no direct role in Nord Stream. The pipeline did not cross Swiss territory, and Switzerland bought only small amounts of gas through it. The Swiss government did not take a position on the political controversy surrounding the project before 2022. After the invasion, the federal authorities applied the sanctions to the companies to the extent that the sanctions covered them. They cooperated with the canton on the consequences of the insolvency of Nord Stream 2 AG. The Federal Department of Foreign Affairs dealt with requests from foreign governments concerning the companies, while SECO examined the transactions of the companies in the insolvency proceedings.

The sabotage of September 2022 raised a question of Swiss interest, because the companies whose property was destroyed were Swiss companies. Their seat in Zug might have allowed the Swiss authorities to open their own investigation into the damage to Swiss property abroad. The Office of the Attorney General did not open proceedings, as far as is publicly known.¹ The investigation was left to the states in whose waters the explosions occurred and to Germany, where the pipelines landed and whose energy supply was affected.

Notes

SRF, "Trotz Explosionen: Die Nord-Stream-Firmen in Zug leben weiter", 27 February 2024, srf.ch: after Sweden and Denmark closed their investigations, only Germany was still investigating; no Swiss proceedings are mentioned. A formal statement of the Office of the Attorney General was not found. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

Nord Stream and the Swiss authorities

Notes

Setting up or expanding in Switzerland?