President Biden said Wednesday he will reverse last year's decision to waive sanctions on the entity and corporate officers behind the Nord Stream 2 pipeline, a day after Germany froze certification of the Kremlin-backed project.
Why it matters: It's an escalation in the U.S. sanctions response to what the administration has called the "the beginning of a Russian invasion" of Ukraine, and delivers a fresh blow to an $11 billion pipeline that has proven to be a massive headache for President Biden ever since he waived sanctions last May.
