On Wednesday, President Biden announced that he is sanctioning the owner of the Nord Stream 2 natural gas pipeline that connects Russia and Germany in response to Russian President Vladimir Putin’s recognition of the Donbas republics.
The sanctions will target Nord Stream 2 AG, the company that’s running the pipeline project, and its CEO. In 2021, Biden decided not to target Nord Stream 2 AG with sanctions despite intense pressure from Congress.
“Today, I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers. These steps are another piece of our initial tranche of sanctions in response to Russia’s actions in Ukraine,” Biden said in a statement.
The construction of Nord Stream 2 is already completed, and the pipeline is worth about $11 billion. On Tuesday, German Chancellor Olaf Scholz announced the suspension of the certification process for Nord Stream 2.
Ukraine stands to lose billions in transportation fees if Nord Stream 2 is ever operational and welcomed Scholz’s decision. For their part, Russia said it “regrets” the decision and hopes the suspension is only temporary.
Biden announced Tuesday sanctions targeting two Russian banks, the country’s sovereign debt, and Russia’s “elites” and their families. Many of the US’s allies also slapped sanctions on Russia, including the EU, the UK, Japan, Australia, and Canada.
The US has labeled Putin’s moves the “beginning of an invasion” of Ukraine. Putin ordered the Russian military to send “peacekeepers” to the Donbas, but he said Tuesday that the deployment hasn’t started yet. On Wednesday, the separatists formally asked Russia for military assistance against Ukraine.
11 thoughts on “Biden Imposes Sanctions on Nord Stream 2 Owner Over Donbas Recognition”
Bye-bye, German industry.
The British Boris is smiling.
British Boris is a buffoon. “When little men cast long shadows, the sun is about to set.”
He won’t be when the economic blowback hits.
Germany was never going to license NS2 Germans they are under the heel of the US , how ever Putin new this so made his move , i can see the gas destined for Europe going else where probably China , India ect
Poor CEO. Here he thought business and politics could be kept separate for the sake of energy abundance.
the Germans will just take it, what a bunch of serfs
Europe is totally under the heel of the americans 0 it’s a pity
Absolutely, Russia offers Europe cheap gas / oil but the Europeans say ho no we don`t want cheap gas / oil we want expensive freedom gas from the US , are they completly mad or is it me ?.
The American taxpayers will be subsidizing the additional costs of transporting LNG and oil to Europe. Bet on it.
Biden just Froze Europe…!
The US is just disappointed that the Russians beat us to it!
At least, the Russians were invited…
Comments are closed.