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.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More gas & LNG news

Severe Cyclone Makes Landfall Near Australia’s Iron Ore Hub

Gas Traders Leave Essen Hungry for More on German Storage Plans

AG&P Pratham and THINK Gas toast the merger of their two brands

Russia, Turkey Discuss Gas Swap to Pay for Nuclear Plant

India LNG Buyers Negotiate US Deals Before Modi-Trump Summit

Moldova Seeks Deal to Keep the Lights on After Russia Cut Gas Supply

Zelenskiy Says Working With Trump’s Team, Seeking Deal With US

Norway Gets First Ship to Carry Waste Carbon to Undersea Storage

ADNOC Gas delivers record $5 billion net income for 2024
