Tuesday, July 7, 2026

Nord Stream BS

So....a footnote....there was insurance coverage for the Nord Stream pipes....the ones blown up.

Insured by Lloyd's of London....for roughly 580 million Euro.

Once the Germans figured out the culprits (suspects from Ukraine)....they avoided uttering the term "terrorist attack."   Yeah...they suggested "sabotage." 

One is insured....the other is not.

Lloyds looked at the mess and said....the contract does not cover losses or damage directly or indirectly caused by armed conflict.  

German court?  They still suggest sabotage.  Brit court?  No.....terror action.

My general bet....in the end....to settle this....Lloyds probably will offer 20-percent of the payment.

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