Updated: Despite Tensions, German Insurers Reportedly Renew Insurance Cover For Russia-Owned Nord Stream Pipeline

Allianz SE (OTC:ALIZY) and Munich Re have reportedly renewed insurance coverage for the damaged Russia-controlled Nord Stream 1 gas pipeline.
Munich Re and Allianz declined to comment.
Russia has a 51% stake in Nord Stream 1 through a subsidiary of the state-owned Gazprom.
Citing five sources familiar with the matter, Reuters reported that the insurance revival was not ruled out after an alleged sabotage attack.
The insurance industry and trade sources declined to be named because of the issue's sensitivity.
The insurance policy covers damage to the pipeline and business interruption issues, one of the sources said.
Russia's foreign ministry has reportedly accused European countries of trying to hide the results of their investigations of the Nord Stream gas pipeline blasts that happened in September last year.
Swedish and other European investigators say the attacks were carried out intentionally without mentioning who was responsible. Russia has blamed the explosions on Western sabotage without providing any evidence.
Some of Nord Stream's German shareholders favor at least preserving the damaged pipeline in case relations with Moscow improve, the Reuters report added.
Editor's Note: The story has been updated to reflect that the mentioned companies haven't confirmed the insurance renewal.