Lobbyists flee Nord Steam 2 pipeline project

• Politico first reported the agreements had ended. BGR confirmed its termination to Axios. Roberti did not immediately respond to a request for comment.

Why it matters: Sanctions aimed at punishing Russia's invasion of Ukraine may not deter further aggression but are already hitting key Russian assets.

• President Biden also announced sanctions against two Russian banks and three senior Kremlin officials this week.
• He's expected to unveil additional measures during a White House address on Thursday afternoon.

What they're saying: “BGR is ending its engagement with the Nord Stream 2 gas pipeline project in compliance with economic and trade sanctions announced by the U.S. government,” BGR spokesman Jeff Birnbaum told Axios in an email.

Between the lines: The Nord Stream 2 pipeline is slated to carry Russian gas to Europe.

• It's become a sticking point in efforts to punish Russia over its invasion of Ukraine and deter additional aggression.
• Biden initially waived Trump-era sanctions against companies involved with the project, but rolled back those waivers this week.