Watch Live: Biden updates nation as U.S. vows new Russia sanctions

President Biden is delivering an update on Ukraine Tuesday afternoon, as the U.S. and its allies pledge new sanctions over Russia's latest aggression against its neighbor. Russian President Vladimir Putin said he would send "peacekeeping" forces into Ukraine's eastern breakaway regions, a move announced after he formally recognized Luhansk and Donetsk as independent from Ukraine on Monday. 

The recognition of the breakaway territories as independent was soon followed by new U.S. sanctions ordered by Mr. Biden. The executive order he signed Monday bars new investment and trade and financing by individuals in the U.S. in Luhansk and Donetsk, both in the Donbas region in Eastern Ukraine. 

"I have signed an Executive Order to deny Russia the chance to profit from its blatant violations of international law. We are continuing to closely consult with Allies and partners, including Ukraine, on next steps," Mr. Biden tweeted Monday evening.