BIDEN: "Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences."
He announces "additional strong sanctions" with allies, including new limits on what can be exported to Russia; the goal is to "maximize the long-term impact on Russia."
President Biden says new sanctions by the US and allies will "limit Russia's ability to do business in dollars, euros, pounds and yen."
Biden says the new sanctions will target additional Russian banks as well as "Russian elites and family members" and state-owned enterprises.
Biden says the new sanctions on Russia will curtail its high-tech imports, limit the country's ability to upgrade its military and degrade its aerospace industry and space program.
BIDEN: "Our forces are not going to Europe to fight in Ukraine, but to defend our NATO allies."
"The United States will defend every inch of NATO territory with the full force of American power."
US will meet its Article 5 commitments, he says.
Biden: "I will do everything in my power to limit the pain the American people are feeling at the gas pump. This is critical to me." But he says Putin's aggression cannot go unanswered or the long-term harm will be greater. "America stands up to bullies. We stand up for freedom."
Biden: "This is a dangerous moment of all of Europe... Now the entire world sees clearly what Putin and his Kremlin allies are all about... It was always about naked aggression, about Putin's desire for empire... sinister vision for the future of our world."
Biden takes questions. First goes to AP. "I have no plans to talk to Putin."
Biden, asked about SWIFT banking sanctions on Russia, says it's "always an option" but it's currently "not the position" that European partners wish to take.
Biden predicts the new sanctions on Russia will "so weaken his country" that Putin will "have to make very difficult choices" about whether to change course or become a "second-rate power."
Biden: "There is a complete rupture right now in US-Russia relations if they continue on this path."
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BIDEN: "This is the beginning of a Russian invasion of Ukraine.”
He says he will impose sanctions that’ll increase if Putin goes further.
Biden announces "first tranche" of new US sanctions on Russia: full blocking sanctions on VEB and military bank; "comprehensive sanction on Russian sovereign debt"; cut them off from western financing. Starting tomorrow, sanctions on "Russian elites and their family members."
Biden says new sanctions have been coordinated with allies. "We'll continue to escalate sanctions if Russia escalates."
US will defend "every inch of NATO territory."
"Let me be clear. These are totally defensive moves on our part. We have no intention of fighting Russia."
Parkland survivor @davidhogg111 to Democrats: "if you say you support gun violence prevention legislation, you get elected on that and you do nothing about it, I don’t see you as any better than the NRA... people are dying because of your inaction." nbcnews.com/politics/biden…
.@Sen_JoeManchin, on WVMetroNews radio, again sounds the alarm on rising inflation, calling it a 7.5% tax hike on Americans; he tells the Fed to stop “pussyfooting around” and take some actions to bring it down.
.@Sen_JoeManchin says he’s still willing to use reconciliation to raise taxes on corporations and the wealthy, let Medicare negotiate drug prices, lift the Social Security payroll tax cap; says he’s fine with some spending, like climate. His priority: must bring down the debt.
As for which specific taxes he’s willing to raise, Manchin repeats much of what he said here: 25% corporate rate, close carried interest, 28% capital gains. More: nbcnews.com/politics/congr…
Rep. Adam Kinzinger tells @Morning_Joe that the RNC's censure and depiction of Jan. 6 is "a defining moment" for the Republican Party. He responds to Kevin McCarthy: "He is the weakest leader that has ever, frankly, existed in that position."
Kinzinger says RNC members didn't oppose the resolution bc they're "scared to death of the mob."
"RNC deserves every aspect of backlash that's going to come down on it. And this is a defining moment in American politics...Are you for authoritarianism? Are you against democracy?"
Rep. @AdamKinzinger says he doesn't take the RNC resolution personally: "I don't get the hurt feelings that Donald Trump gets on daily basis."
"Donald Trump literally just admitted to a coup attempt, and you're gonna turn your fire on Liz and Adam?"