German Chancellor Olaf Scholz will cancel the Nord Stream 2 project from Russia. The natural gas pipeline has long been opposed by the U.S. and some European nations who argued it would increase Europe's reliance on Russian energy. President Joe Biden allowed the project to move forward to repair relations with Germany
* German Chancellor Olaf Scholz announced Tuesday that he is halting the process of certifying the Nord Stream 2 natural gas pipeline from Russia
* Meanwhile, Joe Biden is facing pressure to get tougher on Russia and impose sanctions directly on Putin
* The president changed his schedule to include a press conference for 1 p.m. on Tuesday afternoon to provide an update on the situation in Ukraine and Russia where he is expected to announce more sanctions
* Russian tanks rolled into Donetsk and Luhansk after Putin ordered 'peacekeepers' into the regions
* Putin officially recognized the two areas of Ukraine as independent states in a press conference Monday
* Biden imposed sanctions against the two breakaway regions of Eastern Ukraine amid the move but stopped short of issuing full-blown sanctions against Russia
* UK Health Secretary Sajid Javid this morning declared on national television that 'the invasion has begun'
* Some western allies have stopped short of calling the encroachment of Russia on Ukrainian soil an 'invasion'
Germany finally halted certification of the Nord Stream 2 pipeline after Russian President Vladimir Putin ordered troops into Eastern Ukraine and declared regions of the country 'independent republics.'
Joe Biden added to his Tuesday schedule a press conference for 2:00 p.m. to provide an update on the situation in Eastern Europe.
Shortly after, an administration official said that the time had been bumped up by an hour to 1:00 p.m.
It's expected the president will announce further sanctions during the remarks after receiving backlash for not being tough enough on Russia and Putin after invading Ukraine.
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WNU Editor: The Eu is saying this will not impact energy prices .... EU says halt to Nord Stream 2 would not affect bloc's energy supply (Reuters). The markets disagree .... European Gas Prices Surge as Putin Orders Forces to Ukraine Separatist Areas (Bloomberg).
Update: Russian officials are painting a dark picture on what the price of energy is going to become .... EU will soon pay double for gas – Medvedev (RT). More here .... Russia Warns Of "Brave New World" Of Higher Gas Prices After Germany Halts Nord Stream 2 (Zero Hedge).
As to what is my take. Today's energy prices are going to be cheap when compared in a year from now.
Germany Halts Certifying The Nord Stream 2 Pipeline. Natural Gas Prices Surge In Europe
Ukraine crisis: Germany halts Nord Stream 2 approval -- DW
Scholz Says Germany Suspending Nord Stream 2 -- Moscow Times
Scholz Says Germany Is Putting Nord Stream 2 On Hold, Following Putin's Actions On Ukraine -- RFE
Germany halts Nord Stream 2 and Russia responds with a stark warning -- CNN
Germany stops Nord Stream 2 certification following Russia's Ukraine escalation -- Washington Examiner
Germany makes decision on Nord Stream 2 -- RT
EXPLAINER: What is the Russia-Europe Nord Stream 2 pipeline? -- AP