U.S., Europe ramp up sanctions on Russia as Ukraine prepares for a broader incursion

Judy Woodruff:

President Biden, the European Union, and the United Kingdom all logged new and harsh sanctions against Russia today, as the Russian Parliament authorized Vladimir Putin to further invade Ukraine.

It was an active and urgent day, from Ukraine, to Moscow, and wider Europe, and to Washington.

Nick Schifrin again starts our coverage.

Nick Schifrin:

Along the line that separates Ukrainian troops from Russian-backed separatists, the war has already entered residents' living rooms. This woman's house was attacked yesterday. People here fear the worst is yet to come.

Pensioner Oleksiy, Ukraine Resident (through translator):

I am very worried. From this situation, we cannot expect anything good to happen.

Nick Schifrin:

Nothing good from the troops that Russians listening to music in their cars are increasingly posting on social media. Near the border with Ukraine, Russian convoys are on the move. Some vehicles are marked with insignia like a Z in a square. These are prisoner transport trucks. Experts say they're likely to be used to occupy cities.

President Joe Biden:

This is the beginning of a Russian invasion of Ukraine.

Nick Schifrin:

At the White House, President Biden announced new sanctions in response to yesterday's announcement by Vladimir Putin to recognize the independence of Donetsk and Luhansk, partially controlled by Russian-backed separatists since 2014.

Biden imposed sanctions on the Russian state banks VEB and PSB, which is focused on defense, Russians close to Putin, and restricted dealings with Russia's sovereign debt.

President Joe Biden:

That means we have cut off Russia's government from Russian financing. Russia will pay an even steeper price if it continues its aggression, including additional sanctions.

Nick Schifrin:

The American sanctions synced with allied punishment. German Chancellor Olaf Scholz further suspended Nord Stream 2, the Russian-German gas pipeline that had previously been a government priority.

Olaf Scholz, German Chancellor (through translator):

It is now up to the international community to react to these one-sided, incomprehensible and unjustified actions by the Russian president, in close cooperation, well-coordinated, and targeted.

Nick Schifrin:

The European Union sanctioned Russian lawmakers who recognize separatist republics, banned ban trade with those republics, and limited Russian access to European banks.

Josep Borrell is the E.U.'s top foreign policy official.

Josep Borrell, European Union Minister for Foreign Affairs: We are strongly united in this front.

Boris Johnson, British Prime Minister:

Thank you, Mr. Speaker.

Nick Schifrin:

In London, Prime Minister Boris Johnson announced British sanctions on five Russian banks, as well as individuals who have close links with Vladimir Putin.

Boris Johnson:

This is the first tranche, the first barrage of what we are prepared to do. And we hold further sanctions at readiness to be deployed alongside the United States and the European Union if the situation escalates still further.

Nick Schifrinr:

The West fears and Russia is signaling that escalation. Today, the upper House of Parliament voted 170-0 to authorize Russian forces to deploy — quote — "abroad," which Putin for now described as the republics he'd just declared independent.

Vladimir Putin, Russian President (through translator):

In these treaties with both Donetsk People's Republic and Luhansk People's Republic, there are articles about us providing those republics help, including military help.

Nick Schifrin:

In Kyiv today, Ukraine tried to stand by its partners. President Volodymyr Zelensky met his Estonian counterpart, and warned Ukraine could break off diplomatic ties with Russia.

But, despite the massing of the largest force Europe has seen in 70 years, Zelensky repeated his disagreement with dire U.S. assessments.

Volodymyr Zelensky, Ukrainian President (through translator):

We believe that there will be no war, there will be no powerful war against Ukraine, and there will be no wide escalation by the Russian Federation. If there is, then martial law will be introduced.

Nick Schifrin:

But the U.S. is concerned war in Ukraine could spread into NATO. So, the Pentagon today is moving more army soldiers currently in Italy, to the Baltics, and F-35s and helicopter squadrons to across the eastern flank.

And Secretary of State Antony Blinken canceled an upcoming meeting with his Russian counterpart and will instead consult with allies. The U.S. remains convinced that Russian troops could launch a larger invasion at any minute.

For the "PBS NewsHour," I'm Nick Schifrin.