WASHINGTON — The United States and its allies on Tuesday swiftly imposed economic sanctions on Russia for what President Joe Biden denounced as the beginning of an “invasion of Ukraine,” unveiling a set of coordinated punishments as Western officials confirmed that Russian forces had begun crossing the Ukrainian border.
Speaking from the White House, Biden condemned President Vladimir Putin of Russia and said the immediate consequences for his aggression against Ukraine included the loss of a key natural gas pipeline and cutting off global financing to two Russian banks and a handful of the country’s elites.
“Who in the Lord’s name does Putin think gives him the right to declare new so-called countries on territory that belonged to his neighbors?” Biden said Tuesday afternoon, joining a cascade of criticism from global leaders earlier in the day. “This is a flagrant violation of international law and demands a firm response from the international community.”
Biden warned Putin that more sanctions would follow if the Russian leader did not withdraw his forces and engage in diplomatic efforts to resolve the crisis.
But that prospect remained dim by the end of the day, as Secretary of State Antony Blinken canceled plans to meet with the Russian foreign minister on Thursday, saying that it does not “make sense” to hold talks while Russian forces are on the move.
“To put it simply, Russia just announced that it is carving out a big chunk of Ukraine,” Biden said, adding, “He’s setting up a rationale to take more territory by force.”
The global response began early Tuesday, just hours after Putin recognized the self-declared separatist states in eastern Ukraine and Russian forces started rolling into their territory, according to NATO, European Union and White House officials. It was the first major deployment of Russian troops across the internationally recognized border since the current crisis began.
At a news conference in Moscow, Putin said that he had not decided to send in troops “right at this moment.” But officials said the invasion started overnight, just hours before Putin’s Parliament formally granted him the authority to deploy the military abroad. Ukrainians near the territory controlled by Kremlin-backed separatists have already endured days of shelling, and as Ukrainian troops hunkered down in their trenches and civilians took shelter in basements, the country’s military said that one soldier had been killed so far and six wounded.
Financial markets around the world wobbled on Tuesday in the wake of the Russian actions and the response from Western governments. In the United States, the news pushed stocks lower, leaving the S&P 500 in correction territory, more than 10% below its January peak. Oil prices, which had risen to nearly $100 a barrel in anticipation of a global disruption, settled at $96.84 a barrel, up 1.5%.
Biden and his counterparts in Germany, England and other European nations described the package of global sanctions as severe. They include financial directives by the United States to deny Russia the ability to borrow money in Western markets and to block financial transactions by two banks and the families of three wealthy Russian elites.
But the moves in Washington and other capitals around the world were limited in scope and fell short of the more sweeping economic warfare that some — including members of Congress and other supporters of Ukraine — have repeatedly demanded in recent weeks.
Biden and his counterparts have said they must balance the need to take swift and severe action with preserving the possibility of even greater sanctions on Russia if Putin escalates the conflict by trying to seize more territory claimed by the separatists, or even the entire country — a war that could kill tens of thousands of people.
“This is the beginning of a Russian invasion of Ukraine,” he said, adding that “we’ll continue to escalate sanctions if Russia escalates.”
European leaders also vowed to get tougher if Putin’s forces continued to advance. Prime Minister Boris Johnson described British sanctions as just “the first tranche.”
Biden’s use of the word “invasion” was significant. In the past, he had angered the Ukrainian leadership when he suggested that there might be lesser penalties for a “minor incursion.” Now that Putin has ordered forces into eastern Ukraine, Biden, in his choice of words, is making clear that there is nothing minor about the operation.
But that still leaves open the question of how to calibrate the sanctions — because so far there have been no mass casualties. Jonathan Finer, the president’s deputy national security adviser, said early Tuesday that the administration could hold back some of its promised punishments in the hopes of deterring further, far more violent aggression by Putin aimed at taking the rest of the country.
“We’ve always envisioned waves of sanctions that would unfold over time in response to steps Russia actually takes, not just statements that they make,” Finer said on CNN. “We’ve always said we’re going to watch the situation on the ground and have a swift and severe response.”
Crucially, it remains unclear how far Putin — who has argued that Ukraine itself is a phony country, wrongly carved away from Russia — is prepared to go. On Tuesday, he said ominously that he recognized the so-called Donetsk and Luhansk republics’ sovereignty over not only the land they control, but also the much larger portion of Ukraine that they lay claim to, home to 2.5 million people.
At a hastily called news conference on Tuesday, Putin demanded that Ukraine vow never to join NATO, give up the advanced weapons the West has delivered to it, recognize Russia’s annexation of Crimea and negotiate directly with the Luhansk and Donetsk separatists, who are seen in Kyiv and Western capitals as illegitimate Kremlin proxies.
“The most important point is a known degree of demilitarization of Ukraine today,” Putin said. “This is the only objectively controllable factor that can be observed and reacted to.”
A deputy Russian defense minister, Nikolai Pankov, claimed that Ukraine had gathered 60,000 troops to attack the Russia-backed separatist enclaves in the country’s east — a step that Ukraine denies having any plans to take. Pankov’s remarks offered little evidence that a peaceful end to the conflict between the two countries was in sight.
“Negotiations have reached a dead end,” he said in a televised speech. “The Ukrainian leadership has taken the path of violence and bloodshed.”
