As tensions rise still higher in Ukraine, U.S. President Joe Biden on Tuesday announced new sanctions against Moscow for what he called "the beginning of a Russian invasion of Ukraine." Allies in Europe and Asia are following the U.S. lead, urging Russia to return to diplomacy to de-escalate the situation. Here is a lightly edited transcript of Biden's remarks.
Well, good afternoon. Yesterday, Vladimir Putin recognized two regions of Ukraine as independent states and he bizarrely asserted that these regions are no longer part of Ukraine and their sovereign territory. To put it simply, Russia just announced that it is carving out a big chunk of Ukraine.