Russia-Ukraine crisis: Biden announces sanctions that cut Moscow off from Western financing

Moscow, Feb 22: President Joe Biden announced the US was ordering heavy financial sanctions against Russian banks and oligarchs on Tuesday, declaring that Moscow had flagrantly violated international law by invading Ukraine.

"None of us will be fooled" by Russian President Vladimir Putin's claims about Ukraine, the US President said. And he said more sanctions could be on the way if Putin proceeds further.

Biden said he was also moving additional US 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.