President Joe Biden on Thursday unveiled new, "devastating" sanctions on Russia meant to punish the country for its full-scale invasion of Ukraine, calling out Russian President Vladimir Putin for his aggression.
"Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences," Biden said, laying out a set of sanctions including export controls that will "impose severe cost on the Russian economy, both immediately and over time."
Biden said the new sanctions also include four Russian banks and "corrupt billionaires" and their families who are close to the Kremlin.
And he announced a new deployment of ground and air forces to NATO's eastern flank, even as he reiterated US troops would not engage in direct conflict in Ukraine.
"Our forces are not and will not be engaged in the conflict," he said. "Our forces are not going to Europe to fight in Ukraine but defend our NATO allies and reassure those allies in the east."
The new sanctions were selected from a menu of options that includes restrictions on financial institutions, bans on technology exports and blocks targeting members of Putin's inner circle.
Mindful of rising gas prices in the United States, Biden said he was working to limit the fallout the new sanctions would have on energy prices. He said the US was ready to release barrels from the Strategic Petroleum Reserve alongside its allies.
"I know this is hard and that Americans are already hurting," he said. "I'll do everything in my power to limit the pain the American people are feeling at the gas pump."