The United States of America has put economic sanctions on Russia due to the Russian invasion of the Republic of Ukraine.
According to President Biden, the sanctions target Russia's VEB and Promsvyazbank banks. Mr. Biden added that sanctions against
Russia's sovereign debt meant that they have cut off Russia's government from Western financing.
The measures would also target Russian "elites," and their family members.
"We have our next move prepared as well, Russia will pay an even steeper price if continues its aggressions," Biden warned.
The US president said Putin is "setting up a rationale to go much further."
According to Biden Putin's move is the beginning of a Russian invasion of Ukraine.
Although he said the US had "no intention of fighting Russia," Biden ordered additional troops to shore up the Baltic states.
"The United States, together with our allies, will defend every inch of NATO territory," Biden said, adding that he still hopes diplomacy is possible.
DW reported that F-35 fighter jets and Apache attack helicopters were also sent to the Baltic region and Poland
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