* Biden announced sanctions on two Russian banks and cut off western money to help Moscow finance its debt
* 'Today I'm announcing the first tranche of sanctions to impose costs on Russia in response to their actions yesterday,' Biden said in his less than 10-minute remarks
* Biden also hit Putin's innner circle, targeting the Russian leader's deputy chief of staff, the head of his security agency and the CEO of the Russian-version of Facebook
* He said the sanctions would include 'implementing full blocking sanctions on two large Russian financial institutions, VTB and their military bank'
* Previewed the U.S. would stop Nord Stream 2 from moving forward after Germany said it would halt licensing
* Russia's parliament approved Vladimir Putin's request to use military force outside his nation's borders
* Russia has sent more than 10,000 troops into Ukrainian territory occupied by separatists, source has claimed
* '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
* Came as Kremlin said Putin's order to recognize Donetsk and Luhansk as independent extends to areas currently held by Ukrainian forces, raising fears of a land-grab and direct conflict
* Putin said during a Tuesday news conference that he recognizes the sovereignty of the entire Donetsk and Luhansk regions, despite rebels controlling less than half the territory there
* White House national security official said Russia's movements amounted to an 'invasion' on Tuesday
President Joe Biden took a direct hit at Vladimir Putin's inner circle on Tuesday, invoking sanctions on the Russian leader's deputy chief of staff, the head of his security agency and the CEO of the Russian-version of Facebook.
The targets on specific Russian individuals comes as part of what the administration is calling a 'first tranche' of sanctions in response to Putin declaring two parts of Ukraine as independent republics.
'Yesterday Vladimir Putin recognized two regions of Ukraine as independent states and he bizarrely asserted that these regions are no longer part of Ukraine and they are sovereign territory,' Biden said at the White House on Tuesday.
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U.S. Imposes More Sanctions On Russia
Biden says ‘this is the beginning of a Russian invasion’ as he announces sanctions – as it happened -- The Guardian
Biden sanctions Russian oligarchs, banks in Ukraine crisis -- AP
Biden says Russia is beginning an ‘invasion of Ukraine’ as he unveils sanctions on Moscow -- CNN
U.S. imposes sanctions on Russian banks, sovereign debt and elites after Ukraine invasion -- Politico
Biden imposes new Russia sanctions, decries ‘beginning invasion’ -- Al Jazeera
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