US President Joe Biden, in a national address on Tuesday, called the latest steps by Russia to recognise the independence of breakaway regions in eastern Ukraine, as well as to move troops into the area, the beginning of a Russian invasion of Ukraine. Thus, Biden said that he will begin to impose sanctions on Russia that are far beyond earlier sanctions, given Russia's move was a flagrant violation of international law. 

The first tranche of sanctions starts now, Biden stated on Tuesday, saying that the US is issuing the full blockage of two Russian banks and is to impose sanctions on Russian elites and their family members. The US will also implement comprehensive sanctions on Russian sovereign debt. Russia will pay an even steeper price if it continues with the path of aggression.