Joe Biden warned the latest developments are “the beginning of a Russian invasion of Ukraine” in a statement.
The president announced the US is imposing sanctions against Russian elites and their family members as well as against two Russian banks.
It comes hours after Vladimir Putin urged for the “demilitarisation” of the country to end the crisis deepening while speaking at a news conference in Moscow.
Earlier on, Prime Minister Boris Johnson has unveiled a “first tranche” of sanctions on Russian banks and individuals following Vladimir Putin’s decision to send Russian troops into eastern Ukraine.
