President Joe Biden on Wednesday announced new sanctions related to the Nord Stream 2 Pipeline.
On Monday, Russian Vladimir Putin declared two regions within Ukraine to be independent and then signed a decree authorizing troops to move into the two breakaway regions.
In response Tuesday, German Chancellor Olaf Sholz announced a halt to the certification of the Nord Stream 2 Pipeline—an ongoing project representing an $11 billion investment from Russia that, if certified, would carry 55 billion cubic meters of natural gas from Russia to Germany every year.
Biden has now directed his administration to impose sanctions on the pipeline’s project company, Nord Stream 2 AG, and its corporate officers, according to a White House statement on Feb. 23.
This comes in addition to the U.S. sanctions against the two breakaway Ukrainian regions announced Monday, and sanctions against state-owned Russian banks and Russian elites Biden announced Tuesday.
White House press secretary Jen Psaki told reporters Wednesday that Russian troops remain in attack position for further invasion of Ukraine and the United States is prepared to impose further sanctions in the event of further invasion.
Biden has acknowledged that Americans will likely see increased costs at the gas pump as a result of the sanctions against Russia but has pledged that his administration is using “every tool at our disposal” to limit the effect on gas prices.
From The Epoch Times
