WATCH: President Biden announces financial sanctions against Russian banks and oligarchs

WASHINGTON, D.C. - President Joe Biden has announced the U.S. is ordering heavy financial sanctions against Russian banks and oligarchs, declaring that Moscow has flagrantly violated international law by invading Ukraine.

The U.S. president said he was also moving additional U.S. troops to the Baltic states on NATO’s eastern flank.

Biden joined the 27 European Union members who unanimously agreed on Tuesday to levy their own initial set of sanctions targeting Russian officials over their actions in Ukraine.