US new sanctions target company building Nord Stream 2 pipeline

The United States imposed sanctions on Nord Stream 2 AG company, the company in charge of building Nord Stream 2 gas pipeline between Russia and Germany, hours before Russia’s Vladimir V. Putin began a military operation in Ukraine.

In a statement late on Wednesday, U.S. President Joe Biden wrote "Today, I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers." He said that his administration is closely coordinating Nord Stream 2 action with Germany. 

"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," wrote the U.S. president.

The sanctions target the Nord Stream 2 AG company and its CEO, Matthias Warnig. The project which was supposed to increase gas supply from Russia to Europe, has not yet begun operations as it has been awaiting certification by Germany and the European Union.

Germany halted the pipeline worth US $11 billion on Tuesday, citing Russia's actions toward Ukraine.