Biden announces sanctions against Nord Stream 2 pipeline

President Joe Biden on Wednesday announced sanctions against the Nord Stream 2 pipeline in response to Vladimir Putin's invasion of Ukraine.

Biden said in a statement that his administration will place sanctions on Nord Stream 2 AG, the parent company of the pipeline that would have funneled gas from Russia to Germany. Corporate officers of the company will also be sanctioned.

Biden's administration controversially lifted congressionally mandated sanctions on the pipeline last year, which raised questions about his decision to allow Germany to become energy dependent on Russia. 

In response to Putin's recent actions in Ukraine, Germany halted the certification of the pipeline yesterday.