President Joe Biden said Russia’s actions in Ukraine will trigger massive sanctions, a response he has been threatening for weeks as President Vladimir Putin built up troops on Ukraine’s borders. He said President Vladimir Putin had flagrantly violated international law.

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Putin on Tuesday received authorization from the upper chamber of parliament to use Russian troops outside of the country. He told reporters this was necessary to formalize the military’s deployment in two rebel regions of eastern Ukraine, which Russia recognized as independent on Monday.

Biden says Russia “will pay an even steeper price” if continues aggressions.

“There’s not question Russia is the aggressor,” Biden said. “Whatever Russia doies next, we’re ready to respond.”

Biden says the sanctions are designed to “cut off” Russia from international loans and other forms of financial assistance they rely on. Penalties also target Russian “elites” and their family members who profit from its military adventurism.

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