Biden responds with sanctions after Putin recognizes breakaway Ukraine regions

The sanctions are separate from ones if Russia invades, the White House said.
Potential Biden-Putin meeting could be soon
White House national security adviser Jake Sullivan talks about the latest in the Ukraine crisis, including a possible meeting “in principle” between the U.S. and Russia.
President Joe Biden on Monday reacted swiftly to Russian President Vladimir Putin declaring he would recognize the independence of two breakaway regions in eastern Ukraine, possibly using the move as a pretext for an invasion the U.S. has warned was likely coming at any hour.

The White House said Biden would soon issue an executive order "that will prohibit new investment, trade, and financing by U.S. persons to, from, or in" the two Ukrainian regions under the control of Russian-backed separatists, Donetsk and Luhansk.
Biden said Friday the U.S. had "reason to believe" that Russia would invade "within days." On Sunday, U.S. officials told ABC News that lower-level Russian tactical commanders had been making plans on the ground, at the local level, to invade Ukraine.

A senior Biden administration official said Sunday that no plans existed yet for a potential Biden-Putin summit, and that Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov would discuss the format and timing later this week – as long as Russia did not invade.
The diplomatic proposal emerged from two calls Macron held with Putin and one with Biden Sunday; his second with Putin began around 1 a.m. Moscow time Monday morning, according to the Elysée Palace.
Biden told Macron that, "in principle, he would be prepared to meet with Putin if President Putin stood down from his invasion," Biden's top national security adviser, Jake Sullivan, said in an interview with "Good Morning America" on Monday.

But, Sullivan added, "We can't say anything other than indications on the ground look like Russia is still moving forward."
Meanwhile, during their meeting in Moscow, Putin and top Russian national security officials bluntly questioned the usefulness of holding any new summit with Biden, suggesting it would be pointless unless the United States had changed its position.

Putin said that Macron suggested there were some "changes" in the U.S. position, although he added he could not see what they would be. Russia's foreign minister said he would speak to his French counterpart today – but was sure the U.S. would not provide positive responses to Russia's needs.

Even as U.S. officials warned a Russian invasion appears imminent, they also said they were still open to talking.

"We never give up hope on diplomacy until the missiles fly or the tanks roll," Sullivan said. "We've been working hard for months with our allies and partners to get Russia to sit down in a serious way at the table."

But, he added, "The likelihood there's a diplomatic solution, given the troop movements of the Russians, is diminishing hour by hour."