On Monday, after an extraordinary large meeting of the Russian Security Council, Russian President Vladimir Putin addressed the citizens of Russia, saying that he considers it necessary to make a decision to immediately recognize the sovereignty of the LPR and the DPR.

Immediately after the appeal, the president signed decrees in the Kremlin recognizing the republics.

"We have anticipated a move like this from Russia and are ready to respond immediately. President Biden will soon issue an Executive Order that will prohibit new investment, trade, and financing by U.S. persons to, from, or in the so-called DNR and LNR regions of Ukraine," Psaki said in a statement.

She added that in the near future the US administration will announce "additional measures related to today's blatant violation of Russia's international commitments."

"To be clear: these measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with Allies and partners should Russia further invade Ukraine," the spokeswoman said.

Psaki added that after Russia's recognition of the DPR and the LPR, Washington continued to remain in close contact with its allies and partners, including Ukraine, "on next steps and on Russia's ongoing escalation along the border with Ukraine."