Biden announces major new sanctions, troop deployments to Germany

US President Joe Biden on Thursday afternoon unveiled harsh new sanctions against Russia, imposing measures to impede Moscow's ability to do business in the world's major currencies, along with sanctions against banks and state-owned enterprises.

"Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences," Biden told reporters at the White House, adding that sanctions on Putin himself are still "on the table".

Biden said the sanctions would limit Russia's ability to do business in dollars, euros, pounds, and yen.

Biden said this was a dangerous moment for all of Europe, and while he asserted that no US troops would be deployed to Ukraine, Washington has authorised troops that had been placed on standby to deploy to Nato ally Germany.

A senior official told Reuters on condition of anonymity that 7,000 US troops will be sent to Berlin to help reassure Nato allies.

The US president also noted that the US has been working with counterparts in other countries to release additional oil from global strategic crude reserves.