Russia Acknowledges The Independence Of Donetsk And Lugansk, President Biden Signs Trade And Investment Ban Order

US President Joe Biden signs an executive order banning two breakaway territories in eastern Ukraine. (Twitter/@POTUS)

JAKARTA - United States President Joe Biden signed an executive order banning trade and investment between U.S. individuals and two breakaway territories in eastern Ukraine recognized by Russia on Monday, the White House said.

These include the prohibition of 'new investments' by Americans, wherever located, and 'the importation into the United States, directly or indirectly, of any goods, services, or technology from the territories covered.'

"I have signed an Executive Order denying Russia the opportunity to take advantage of this flagrant violation of international law. We continue to consult with our Allies and partners, including Ukraine, on next steps," President Biden wrote on the US President's Official Twitter account on February 22.

As previously reported, President Biden will soon issue an executive order barring "new investment, trade, and financing by U.S. persons into, from, or in" the two breakaway territories, the White House said.

It will also grant the authority to impose sanctions on anyone determined to operate in the Ukrainian territory, White House spokeswoman Jen Psaki said in a statement.

Psaki said the measures launched in response to Putin's decision were separate from sanctions the United States and its allies had prepared if Russia invaded Ukraine.

US Secretary of State Antony Blinken said the executive order was "designed to prevent Russia from taking advantage of this flagrant violation of international law."

Russian President Vladimir Putin recognized the two breakaway regions of eastern Ukraine as independent on Monday, ordering the Russian army to launch what Moscow calls a peacekeeping operation into the region, accelerating a crisis the West fears could spark a major war.

"I consider it necessary to make a decision that should have been made a long time ago, to immediately recognize the independence and sovereignty of the Donetsk People's Republic and the Lugansk People's Republic," said President Putin.

In his decision, President Putin dismissed Western warnings that such a move would be illegal, stifling peace negotiations and triggering sanctions.