NEWSRAEL: The Nord Stream 2 gas pipeline is very important to both Germany and Russia, but much more important to Russia. The gas going through this pipeline would not only bring in huge revenues for Russia, but it could then be used as a political tool by the Kremlin by bringing Germany closer to the east.

German Chancellor Olaf Scholz put the certification of the Nord Stream 2 gas pipeline from Russia to Germany on ice, a measure widely considered the toughest Europe is likely to take against Moscow at this stage.

"We must reassess the situation, in particular regarding Nord Stream 2," Scholz told a news conference with the Irish leader in Berlin. The pipe, built to bring gas from Russia to Germany via the Baltic Sea, has been completed but has yet to win regulatory approval.

Tensions over a Russian troop build-up near Ukraine's borders have risen sharply since Putin announced on Monday that he was recognising the independence of the Luhansk and Donetsk regions controlled since 2014 by pro-Russian separatists.