Biden on Russia: 'No one expected the sanctions to prevent anything from happening'

President Joe Biden said punishing sanctions from the United States targeting Russia's economy and top officials were never believed to be an effective deterrent to Russia's assault on Ukraine.

The White House promised to impose “severe and swift” sanctions on Russia if it attacked Ukraine, and the U.S. began imposing new financial penalties on the Russian financial system, elites close to President Vladimir Putin, and a controversial Russian-backed gas pipeline this week.

Biden defended the financial threats after the Russian leader escalated the offensive Thursday, making it clear that any deterrent effect had failed.

“No one expected the sanctions to prevent anything from happening,” Biden said at the White House on Thursday. “This could take time, and we have to show resolve so he knows what's coming, and so the people of Russian know what he's brought on them. That's what this is all about.”