Associated PressAssociated Press
President Joe Biden speaks about the Russian invasion of Ukraine in the East Room of the White House, Thursday, Feb. 24, 2022, in Washington. (AP Photo/Alex Brandon)
President Joe Biden speaks about the Russian invasion of Ukraine in the East Room of the White House, Thursday, Feb. 24, 2022, in Washington. (AP Photo/Alex Brandon)
President Joe Biden speaks about the Russian invasion of Ukraine in the East Room of the White House, Thursday, Feb. 24, 2022, in Washington. (AP Photo/Alex Brandon)
President Joe Biden speaks about the Russian invasion of Ukraine in the East Room of the White House, Thursday, Feb. 24, 2022, in Washington. (AP Photo/Alex Brandon)

President Joe Biden announced a new round of sanctions against Russia on Thursday, saying that Russian leader Vladimir Putin will be held responsible for the actions of his country.

Russian banks, oligarchs and high-tech sectors are targets of the sanctions. The United States and its allies will impose sanctions on Russia.

Biden said the U.S. will send more troops to Germany to bolster NATO after the invasion of Ukraine.

The White House insisted that it would look to hit Russia's financial system and Putin's inner circle, as well as impose export controls that would aim to starve Russia's industries and military of U.

Biden said that Putin chose this war and now he and his country will bear the consequences.

Biden did not impose some of the most severe sanctions, including cutting Russia out of the SWIFT payment system, which allows for the transfers of money from bank to bank around the globe, or Russia's energy sector.

The Ukrainian government reported mounting casualties as Russian forces attacked from the east, north and south.

The leaders of Britain, Canada, France, Italy and Japan had a virtual meeting with Biden, who spoke to Americans from the White House. European Commission President Ursula von der Leyen, European Council President CharlesMichel, and NATO Secretary General Jens Stoltenberg joined the meeting.

The president met with his national security team in the Situation Room on Thursday as he looked to flesh out U.S. moves in the rapidly escalating crisis.

Ukrainian officials urged the U.S. and West to cut the Russians from the financial system, even though Biden described the sanctions as severe.

The president of Ukraine demanded that Russia be disconnected from the international money transfer service, the introduction of a no-fly zone over Ukraine, and other steps to stop the aggression.

The Biden administration is hesitant to cut Russia from the international money transfer network because of the potential ramifications for Europe and other Western economies. Biden appeared to push a decision to European allies.

Biden said that it is always an option, but that it is not the position that the rest of Europe wants to take. He said that the financial sanctions he announced would be more damaging to Russia.

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