Just hours after Russian President Vladimir Putin recognized the independence of two territories within Ukraine, the United States responded with sanctions. President Biden says Russia's escalation in the crisis is meant to serve as a rationale for Russia to take more territory by force.

A Feb. 22 report by the New York Times highlights the move, as Biden and other world leaders joined in an onslaught of criticism against Russia’s actions.

“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?” the New York Times reports Biden said Tuesday afternoon. “This is a flagrant violation of international law and demands a firm response from the international community.”

While Russian troops were already on the ground in the Donetsk and the Luhansk regions, the territory recognized by Putin extends beyond the previously occupied land, the Times reports. In all, the area consists of 2.5 million people.

According to the report, the sanctions are mostly financial, with the U.S. set to deny two Russian banks the ability to borrow money in western markets. They also are limiting the transactions of three wealthy Russian families. Among other comments, Biden warned Putin on Tuesday that more sanctions would follow if Putin does not withdraw his forces from Ukraine and take diplomatic action to resolve the crisis.

In a statement Monday, Ned Price, spokesperson for Secretary of State Anthony Blinken, said the secretary spoke by phone with Ukrainian Foreign Minister Dmytro Kuleba "to reaffirm unwavering U.S. support for Ukraine" and to reiterate that additional actions would be forthcoming if Russian forces remain in Ukraine.

According to the Times, Blinken called off his meeting with the Russian foreign minister due to the latest developments in the crisis. With Russian forces already on the move, a meeting didn't "make sense," Blinken said.