How Blocking the Nord Stream 2 Pipeline Hurts Vladimir Putin's Plans
U.S. President Joe Biden announced Wednesday a reversal to a 2021 decision that waived sanctions on the Russian company behind the Nord Stream 2 gas pipeline and its chief executive. The decision comes a day after German Chancellor Olaf Scholz suspended certification of the pipeline, which runs to his country, due to Russia's invasion of Ukraine.
The Kremlin-backed pipeline would have increased Russia's energy-exporting capabilities throughout Europe, and critics argued Russian President Vladimir Putin could use this power as a major diplomatic weapon. Ukraine would also have suffered financially from the Nord Stream 2 since the country would no longer receive billions of dollars it currently collects in gas-transit fees.
The action against the Nord Strom 2 comes a day after Biden announced sanctions against Russian elites and their families, sovereign debt and two financial institutions. The president also authorized more U.S. troops to join NATO forces in Estonia, Latvia and Lithuania as part of his response to Russia's aggression.
Link to tweet
"Today, I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers," Biden said in a Wednesday 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."
https://www.msn.com/en-us/news/world/how-blocking-the-nord-stream-2-pipeline-hurts-vladimir-putins-plans/ar-AAUdUCh