U.S. President Joe Biden, center, signs H.R. 3684, the Infrastructure Investment and Jobs Act, during a ceremony on the South Lawn of the White House in Washington, D.C., U.S., on Monday, Nov. 15, 2021. Biden has said the $550 billion in fresh infrastructure spending he's signing into law will help ease inflation that's raising consumer alarm and weighing on his approval rating. Photographer: Stefani Reynolds/Bloomberg via Getty Images
President Joe Biden announced that he would carry out his plan to sanction the company that is building the Nord Stream 2 pipeline, which is a 764-mile-long natural gas pipeline that runs beneath the Baltic Sea between Russia and Germany.
The decision followed Russia’s aggressive action of moving in troops into two breakaway Ukrainian regions after recognizing them as “independent.”
“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. As I have made clear, we will not hesitate to take further steps if Russia continues to escalate,” Biden wrote in a statement.
“Through his actions, President [Vladimir] Putin has provided the world with an overwhelming incentive to move away from Russian gas and to other forms of energy,” Biden added.
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Germany halted the certification of the pipeline project with Russia on Tuesday. An official for the project said that sanctioning the company, whose parent company is under prominent Russian gas company, Gazprom, will most likely end the project.
Previously, the U.S. held back on sanctioning the project in deference to Germany, but since they stopped the certification, the Biden administration will move ahead.
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