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Politico (22 February 2022)

BY CORY BENNETT, JACOPO BARIGAZZI, CRISTINA GALLARDO AND LILI BAYER

Western allies on Tuesday moved quickly to ramp up economic pressure on Moscow over Vladimir Putin's decision to send troops into Ukraine, while still leaving scope for tougher measures if Moscow launches further military action.

While EU countries, the U.K. and the U.S. raced overnight to compile an initial list of people and banks to sanction, the big surprise came when German Chancellor Olaf Scholz halted the Nord Stream 2 Russia-to-Germany natural gas pipeline — a move the country had refused to commit to in recent weeks. 

“The situation today is fundamentally different,” Scholz said, responding to Putin's move to recognize two separatist-held areas of eastern Ukraine as independent republics and deploy Russian forces there.

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