Biden administration mulls new sanctions to block Nord Stream 2

The administration of United States President Joe Biden is considering additional sanctions to block the construction of the almost completed Nord Stream 2 gas pipeline, sources tell Bloomberg.

The Biden administration is weighing additional sanctions to block construction of the nearly completed Nord Stream 2 pipeline from Russia to Germany, potentially including the project’s parent company Nord Stream 2 AG, according to three people familiar with the matter. The sanctions would come in the form of an interim report that may also single out an insurance company that has been working with the vessels laying the pipeline in the Baltic Sea as well as other companies providing support vessels and materials to the project, according to the people, who asked not to be identified because of the sensitive nature of the deliberations. Lawmakers from both parties have been pressing the Biden administration to take stronger action to stop Gazprom PJSC’s project after a congressionally-mandate report released last month only named one vessel – the Russian-flagged Fortuna – as subject to sanctions.