U.S. President Joe Biden announced on Tuesday new sanctions targeting Russia's institutions and assets, adding to European Union sanctions on its politicians after Russian President Vladimir Putin recognised two breakaway regions of eastern Ukraine.
Earlier in the day Germany halted the certification of Russia's Nord Stream 2 gas pipeline in a first wave of Western sanctions.Register now for FREE unlimited access to Reuters.com"Our European, American, British colleagues will not stop and will not calm down until they have exhausted all their possibilities for the so-called punishment of Russia."
"As Russia contemplates its next move, we have our next move prepared as well. Russia will pay an even steeper price if it continues its aggression, including additional sanctions."read more"Today's actions, taken in coordination with our partners and allies, begin the process of dismantling the Kremlin's financial network and its ability to fund destabilizing activity in Ukraine and around the world.
The West "does not need grounds" for sanctions, the news agency quoted the official as saying. "Even if those grounds contradicted their message and the actual facts, it wouldn’t make any difference.""It is encouraging that the German government has decided to halt the approval process of Nord Stream 2. The Danish government has always been opposed to Nord Stream 2.
"We regret the halt to the certification process of Nord Stream 2. The pipeline contributes to plugging the growing import gap in Europe. This gap can be filled only partially and at higher costs through new LNG terminals.""Germany's decision to halt Nord Stream 2 this morning took most by surprise. Certainly, I think the Russians were taken by surprise."
"Most analysts expected this card to be pulled out in case of a more dangerous escalation like Russian troops advancing beyond the already separatist Donetsk and Luhansk 'People’s Republics'."Reporting by Reuters bureaus; compiled by Barbara Lewis and Aurora Ellis; editing by Jason Neely and Tomasz JanowskiSign up to our investor newsletter to get the latest news and trends in global financial markets.
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