President Joe Biden announced Wednesday that he will allow economic sanctions to be reimposed on the operator of the Nord Stream 2 gas pipeline.
“I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers,” Biden said in a statement. “These steps are another piece of our initial tranche of sanctions in response to Russia’s actions in Ukraine. As I have made clear, we will not hesitate to take further steps if Russia continues to escalate.”
The president added that Russia’s aggression in Ukraine has given the world “overwhelming incentive to move away from Russian gas” in his announcement Wednesday. The sanctions, which target Nord Stream 2 AG, the pipeline’s operator that is a subsidiary of Russian state-owned energy giant Gazprom, are the latest in a series of actions the Biden administration has taken against Russia.
CNN first reported the sanctions Wednesday. The Department of State didn’t immediately respond to a request for comment from the Daily Caller News Foundation.
On Tuesday morning, German Chancellor Olaf Scholz ordered his economic ministry to halt the certification of Nord Stream 2, which was completed in September, in response to Russia’s invasion of separatist-controlled territories in Ukraine on Monday.