The Biden administration is expected to clear the way Wednesday for the resumption of sanctions on Russia’s Nord Stream 2 pipeline, lifting a security waiver on the company building the $11 billion pipeline.
Sanctions were halted in May last year, but Germany on Tuesday said it would halt the pipeline’s certification process in response to Russia’s decision to move troops into separatist-backed regions of Ukraine."Yesterday, after further close consultations between our two governments, Germany announced that it would halt certification of the pipeline," President Joe Biden said in a statement issued by the White House.
"Through his actions, President Putin has provided the world with an overwhelming incentive to move away from Russian gas and to other forms of energy," Biden said."I want to thank Chancellor Scholz for his close partnership and continued dedication to holding Russia accountable for its actions." A top adviser to Biden said Tuesday that halting the pipeline would levy a major financial blow to Moscow while ending its “geostrategic chokehold” over Europe through its supply of gas.
“But it’s not just about the money,” he continued. “This decision will relieve Russia’s geostrategic chokehold over Europe through its supply of gas, and it’s a major turning point in the world’s energy independence from Russia.”
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