President Biden Slaps Sanctions On Makers of Russia's Nord Stream Gas Pipeline - Kyiv Post

President Biden Slaps Sanctions On Makers of Russia’s Nord Stream Gas Pipeline

By Kyiv Post.

Published Feb. 23, 2022 at 9:26 pm

(COMBO) This combination of pictures created on December 6, 2021 shows US President Joe Biden during a signing ceremony at the White House in Washington, DC on November 18, 2021 and Russian President Vladimir Putin in a congress of the United Russia party in Moscow, on December 4, 2021. - US President Joe Biden and his Russian counterpart Vladimir Putin have accepted in principle to hold a summit, which can only happen if Moscow does not invade Ukraine, the French presidency announced on February 21, 2022. (Photo by MANDEL NGAN and Mikhail Metzel / various sources / AFP)

Photo by AFP

President Joe Biden announced Wednesday that the US will join Germany in imposing sanctions on the Russian Nord Stream 2 natural gas pipeline project in retaliation for Moscow’s military pressure against Ukraine.

“I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers,” Biden said in a statement. The measure, targeting one of energy-rich Russia’s biggest geostrategic initiatives, comes after Germany announced Feb. 22 it was halting the controversial project.

“These steps are another piece of our initial tranche of sanctions in response to Russia’s actions in Ukraine,“

he added.

The €10bn (£8.4bn) project was completed last September. The Nord Stream 2 pipeline connects Russia and Germany.

The US decision comes after German Chancellor Olaf Scholz announced the pipeline would close in response to Russia's moves against Ukraine.