U.S. President Joe Biden has announced that he is imposing sanctions on Russia over Moscow's recognition of the pseudo-republics it created in parts of Ukraine’s Donetsk and Luhansk oblasts.
"We will tighten sanctions as events unfold," Biden said during a briefing at the White House on Feb. 22.
The U.S. president said the sanctions would affect Russia's sovereign debt. They will also hit Russian bank VEB, its military bank, and the Nord Stream-2 gas pipeline. Another block of sanctions will affect Russian elites and their families.
"Who in the Lord's name does Putin think gives him the right to declare new so-called 'countries' on the territory of (Ukraine?)" Biden asked.
He also said the United States would bolster its deployments of troops in the Baltic nations.
"When Russia plans its steps, we want it to know that it will pay an even higher price if it continues its aggression against Ukraine," Biden said.