The new date is Feb 23, 2022, 03:26pm.
President Joe Biden will allow sanctions on the company that built the Nord Stream 2 gas line, and its corporate officers, as part of the penalties against Russia for its actions in Ukraine, he said in a statement Wednesday.
The receiving station of the Nord Stream 2 gas line is near Lubmin, Germany. Sean Gallup poses for a picture.
Biden made the announcement Wednesday after Germany stopped approval of theNord Stream 2 because of Russia's recognition of two pro-Russian territories in eastern Ukraine as independent.
The Russian state-owned gas giant, Gazprom, is the parent company of the Swiss registered Nord Stream 2 AG.
Last year, the Biden administration nixed sanctions on the German company, sparking opposition from some Republicans, including Ted Cruz.
Cruz said Wednesday that President Biden made the right decision by not allowing the Nord Stream 2 to proceed.
The U.S. has opposed the project since Germany announced it in 2015.
The European Union and the United Kingdom have imposed sanctions against Russia due to its actions in Ukraine.
If Russia continues to escalate, we will not hesitate to take further steps, Biden said in a statement Wednesday.
$11 billion. That's how much it cost to build the 764-mile-long Nord Stream 2 gas line. The Russian gas would be shipped directly to Germany. The construction of the line was finished last year, but has not yet received approval from German officials. In 2015, the German government said it would offer energy security.
Several websites of the Ukrainian government, including the parliament, the foreign ministry, and Ukrainian banks were knocked offline Wednesday due to distributed denial of service attacks. Russia moved additional troops and tanks into eastern Ukraine, according to the Prime Minister of Latvia. The U.K. and several EU countries have opposed the project from its inception as it would further increase. Around 40% of the EU's natural gas imports are from Russia. Between 2006 and 2009, Russia cut off gas to Ukraine due to gas price disputes, causing gas shortages in Eastern Europe. Russia could potentially become a political weapon if the Nord Stream 2 is built, as it would increase Germany's dependence on Russian energy.
Biden is expected to allow sanctions on the company.
The U.S. plans to impose sanctions on the company building Russia'sNord Stream 2.
Biden Targets Russian Banks.
The approval of a $11 billion project with Russia has been stopped by Germany.
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