President Biden announces further sanctions on Russia

A New York police officer watches a speech by President Biden in New York's Times Square on Russia's invasion of Ukraine. February 24, 2022, Photo - AFP

"The Russian economy will have to pay a heavy price," he said.

"Putin is aggressive," Biden told the White House on Thursday. Putin has chosen the path of war and now he and his country must suffer the consequences. "

The new sanctions will hurt Russia's banks, the ruling class and the high-tech industry.

Earlier, a U.S. defense official said Russia had "absolute intent" to overthrow President Putin's government by attacking his neighbor on Thursday.

A senior Pentagon official told reporters that "what we are witnessing now is just the beginning of a full-scale offensive." "They are moving towards occupying Kiev," he added.

The official added that "they intend to completely overthrow the Ukrainian government."

The official said Russia's initial attack used more than 100 short-range ballistic missiles, but also medium-range ballistic missiles, cruise missiles and surface-to-air missiles. The missiles are aimed at military installations, such as air bases, barracks and warehouses.

The official said the United States had "seen signs that Ukrainian troops were resisting and fighting back."

The attack, the largest in Europe since World War II, was launched by Putin on Thursday morning. He attacked Ukrainian forces in the disputed east and launched missile attacks on several important cities, including the Ukrainian capital Kiev.

Putin called the attack a "special military operation" aimed at "demilitarizing and liberating Nazism from their southern neighbor." Although Ukraine was once a republic of the Soviet Union, it has been a fully independent state since 1991.