"Today, I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers," Biden said on Wednesday.
"These steps are another piece of our initial tranche of sanctions in response to Russia's actions in Ukraine," he added.
"As I have made clear, we will not hesitate to take further steps if Russia continues to escalate," he also said.
Biden this week announced a fresh slew of “full blocking sanctions” against Russia, including measures designed to target two large Russian financial institutions and the country's sale of sovereign debt abroad.
Biden said on Tuesday that this was a “first tranche” and further sanctions would follow if Russian aggression continued to escalate.
Germany on Tuesday halted the certification of Russia's controversial Nord Stream 2 gas pipeline under the Baltic Sea after Moscow formally recognised two breakaway regions in eastern Ukraine and sent troops into the region, news agencies reported.
The German move, announced by Chancellor Olaf Scholz, came after US officials were cited as saying in December that Washington had an understanding with Berlin about shutting down the controversial pipeline if Russia invaded Ukraine.
The White House said in December that Germany had made commitments about the Nord Stream 2 pipeline in the event of aggressive acts by Russia, according to media reports at the time.
A Polish security official warned last year that the Nord Stream 2 pipeline "gives Russia a chance to destabilize NATO."
Poland has strongly criticized the Nord Stream 2 project, which is almost complete, amid concerns that it will make the European Union more dependent on Russian gas.
Polish lawmakers last year passed a motion calling on EU and NATO countries to take action to stop the construction of the pipeline.
The motion warned that the gas link would open the way for Russia to mount an armed attack on Ukraine.
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Source: PAP, Reuters