Biden announces Russia sanctions, troop movements in response to Ukraine invasion

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President Biden on Tuesday announced new sanctions against Russia, calling Kremlin-led activities in recent hours "the beginning of a Russian invasion of Ukraine," and the authorization of additional U.S. forces to the region, but maintained that the United States has "no intention" of fighting Russia.

The president, from the White House on Tuesday, said Russian President Vladimir Putin is "setting up a rationale" to take Ukrainian territory "by force," after authorizing Russian forces to deploy into the country.

"I know he’s setting up a rationale to go much further," Biden said. "This is the beginning of a Russian invasion of Ukraine." 

BIDEN SAYS RUSSIA IS BEGINNING AN INVASION, ANNOUNCES SANCTIONS: LIVE UPDATES

The president said he will impose further sanctions on Russia, which go "far beyond" the steps taken by the United States and allies and partners in 2014.

"And if Russia goes further with this invasion, we stand prepared to go further as with sanctions," he said.

President Biden speaks about Ukraine in the East Room of the White House, Tuesday, Feb. 22, 2022, in Washington. (AP Photo/Alex Brandon)

"Who in the Lord’s name does Putin think gives him the right to declare new so-called countries on territory that belongs to his neighbors?" Biden said. "This is a flagrant violation of international law and demands a firm response from the international community."

Biden maintained that the United States is working with NATO allies and partners to implement sanctions, saying they have been "closely coordinated," and will "continue to escalate" if Russia "escalates."

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Biden said the United States is implementing sanctions that block two large Russian financial institutions – VEB and its  military bank – and implementing comprehensive sanctions on Russian sovereign debt.

"That means we’ve cut off Russia’s government from Western financing. It can no longer raise money from the West and cannot trade in its new debt on our markets or European markets either," Biden explained.

The Biden administration is also set to impose sanctions on Russia’s "elites and their family members," which the White House teased earlier this month. Biden said they "share in the corrupt gains of the Kremlin policy and should share the pain as well."

Biden went on to say that the U.S. will work with Germany to "ensure Nord Stream 2 will not, as I promised, will not move forward."

Germany overnight said it is taking steps to halt the process of certifying the Nord Stream 2 gas pipeline from Russia over Moscow’s latest actions in eastern Ukraine.

The 764-mile pipeline that would carry natural gas from Russia to Germany has not begun operating. Nord Stream 2 is owned and operated by a wholly owned subsidiary of Russia state company Gazprom.

The Nord Stream 2 has seen a faster development and deployment despite sanctions placed on it by the Trump administration. With those sanctions removed, Germany remains keen to see the pipeline activated sooner rather than later. 

Biden last year removed sanctions on the Nord Stream 2 pipeline, allowing construction and activation to proceed.

But Biden said that as Russia "contemplates its next move," the United States has its next move prepared as well, saying that the United States "will continue to provide defensive assistance to Ukraine," and will continue to "reinforce and reassure our NATO allies."

"In response to Russia’s admission that it will not withdraw its forces from Belarus, I have authorized additional movements of U.S. forces and equipment already stationed in Europe to strengthen our Baltic allies Estonia, Latvia and Lithuania," Biden announced.

"Let me be clear: these are totally defensive moves on our part," he continued. "We have no intention of fighting Russia."

Smoke billows from a power and heating plant after it was shelled in Shchastya, in the Luhansk region, eastern Ukraine, Tuesday, Feb. 22, 2022. (AP Photo/Vadim Ghirda)

Biden said, however, that the U.S. wants to "send an unmistakable message" that the United States and allies "will defend every inch of NATO territory and abide by the commitments we made to NATO."

"We still believe that Russia is poised to go much further in launching a massive military attack against Ukraine—I hope I’m wrong about that. I hope we’re wrong about that," Biden said, noting that there are still well over 150,000 Russian troops surrounding Ukraine.

"Russian forces remain positioned in Belarus to attack Ukraine from the north, including warplanes and offensive missile systems," Biden said, noting that Russia is moving supplies of "blood and medical equipment into position at the border."

"You don’t need blood unless you plan on starting a war," Biden said.

The president said that Russian activities in the last several days mirror what Secretary of State Antony Blinken previewed last week at the United Nations Security Council— detailing false flag events that have been "dramatically" staged.

"President Putin has sought authorization from the Russian parliament to use military force outside of Russian territory, and this set the stage for further pretext of further provocations by Russia to try to justify further military action," Biden said. "None of us, none of us, should be fooled. None of us will be fooled. There is no justification."

He added: "Further Russian assault of Ukraine remains a severe threat in the days ahead."

Biden, shifting to how the situation abroad will affect those in the homeland, said that his administration will use "every tool at our disposal to protect American businesses and consumers from rising prices at the pump."

"Defending freedom will have cost for us as well, and here at home, we need to be honest about that," the president said. "But, as we do this, I’m going to take robust action to make sure the pain of our sanctions is targeted to the Russian economy—not ours." 

Biden said his administration is "closely monitoring" energy supplies to prevent disruption, and is executing a plan and coordination with major oil producing consumers.

"This will blunt gas prices," Biden said. "I want to limit the pain that the American people are feeling at the gas pump—this is critical to me."

A tank drives along a street after Russian President Vladimir Putin ordered the deployment of Russian troops to two breakaway regions in eastern Ukraine following the recognition of their independence, in the separatist-controlled city of Donetsk, Ukraine, Feb. 22, 2022. (REUTERS/Alexander Ermochenko)

Meanwhile, Biden, delivering a direct message to Putin, said the U.S. and allies are "united in our support of Ukraine" and in "our opposition to Russian aggression" and in "resolve to defend our NATO alliance."

"And we’re united in our understanding of the urgency and seriousness of the threat Russia is making to global peace and stability," Biden said, slamming Putin for "directly" attacking "Ukraine’s right to exist."

"He explicitly threatened war unless his extreme demands were met, and there is no question that Russia is the aggressor," Biden said. "So, we’re clear-eyed about the challenges we’re facing."

But Biden said that there is "still time to avert the worst case scenario," and left the door open for diplomacy "if it is serious."

"When all is said and done, we’re going to judge Russia by its actions, not its words," Biden said. "And whatever Russia does next, we're ready to respond with unity, clarity and conviction."

He added: "I’m hoping diplomacy is still available."

The president’s comments came after Putin, on Tuesday during a press conference, called on Ukraine to demilitarize.

Putin’s demands came after Russian troops arrived in eastern Ukraine—just hours after he announced that he would recognize the independence of two separatist regions, officials said.

Russian troops entered in Donbas, the name for the area where the two separatist regions, that have long fought Russia-backed rebels, Donetsk and Luhansk, are located, officials said, noting that they "consider Donbas part of Ukraine."

The Kremlin then raised the stakes further Tuesday, by saying that recognition extends even to parts held by Ukrainian forces.

A White House official told Fox News that administration officials are calling it an invasion.

RUSSIA-UKRAINE: WHITE HOUSE DECLARES RUSSIAN 'INVASION', SAYS SANCTIONS COMING: LIVE UPDATES

"The invasion has begun," the official said. "So our sanctions response has begun."

The president, on Monday, signed an executive order effectively blocking "all economic activity" in Donetsk and Luhansk.

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Deputy National Security Adviser Jon Finer during an interview on CNN Tuesday, promised "additional sanction steps" that the administration plans to take "that go directly at Russia" in response to the "egregious step that they took yesterday away from diplomacy and down the further path toward war."

Meanwhile, senior administration officials told reporters on Monday evening that they will "continue to pursue diplomacy until the tanks roll." 

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"We're under no illusions about what is likely to come next," one official said. "And we are prepared to respond decisively when it does."

Fox News' Greg Norman, Mark Meredith, Paul Conner and The Associated Press contributed to this report.