Russia-Ukraine Crisis

Biden Announces New Sanctions Against Russia, Troop Surge in Baltic Region

The latest round of sanctions targets Russian financial institutions, sovereign debt and the country's oligarchs

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President Joe Biden warned Tuesday that Russian President Vladimir Putin is “setting up a rationale to go much further” in Ukraine and predicted a larger-scale attack in the days to come.

“This is the beginning of a Russian invasion of Ukraine,” Biden said.

He announced another round of sanctions against Russian financial institutions, sovereign debt and the country's oligarchs, and vowed even more severe sanctions if Putin proceeds further in Ukraine.

Biden also said he was moving additional U.S. troops to the Baltic states on NATO’s eastern flank bordering Russia.

Biden joined the 27 European Union members who unanimously agreed on Tuesday to levy their own initial set of sanctions targeting Russian officials over their actions in Ukraine.

He added that his administration was closely monitoring energy supplies to prepare for any potential disruption and coordinating with oil producers to help mitigate price hikes.

“I want to limit the pain the American people are feeling at the gas pump,” Biden said.

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