The Biden administration is looking for commitment from Germany to stop the project, which delivers energy from Russia to Central Europe via the Baltic Sea, in the scenario that tensions between Russia and Ukraine escalate, one of the sources said.
Sanctions on Russian banks and exports are also under consideration as possible response options, the report also said.
The goal is to agree on a response package that is comprehensive, quick to enact, and significant enough to act as a real deterrent, the report added.
Biden and Russian President Vladimir Putin are holding a virtual meeting on Tuesday to discuss critical issues, including the buildup of forces near and in Ukraine, strategic stability and the Iran nuclear agreement negotiations.