Biden plans to impose new sanctions on trade and financing in two pro-Moscow territories

President Joe Biden plans to impose new sanctions on trade and financing in the two pro-Moscow territories in Ukraine that Russian President Vladimir Putin decided to recognize as independent on Monday.
In a statement, the White House said Biden would sign an executive order that would "prohibit new investment, trade, and financing by US persons to, from, or in the so-called DNR and LNR regions of Ukraine."
Putin signed decrees recognizing the Donetsk People's Republic and the Luhansk People's Republic Monday in a ceremony carried on state television earlier on Monday.
Biden's executive order will also allow the US to impose sanctions on anyone operating in those areas. And the White House said it would "soon announce additional measures related to today's blatant violation of Russia's international commitments."
"To be clear: these measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with Allies and partners should Russia further invade Ukraine," White House press secretary Jen Psaki wrote in a statement.
The US response followed a lengthy speech from Putin Monday attacking both Ukraine and the West and his signing of the decrees recognizing the two controversial separatist-held regions.Western officials fear that the move is the precursor to a full-scale Russian invasion of Ukraine. US and other NATO countries have warned they have prepared severe sanctions in the event Moscow invades Ukraine that would go beyond the measures the White House announced on Monday.