WASHINGTON (NEXSTAR) — The latest set of economic sanctions is in coordination with the European Union and the G7. It is all in an effort to make Vladimir Putin back off.

“It’s a crushing blow to Russia,” President Joe Biden said.

President Biden announced the U.S and its allies will further isolate and sanction Russia, by removing its most favored nation trading status.

“Putin is an aggressor. He is the aggressor. And Putin must pay the price,” President Biden said.

The U.S will also ban imports of Russian seafood, alcohol and diamonds. State Department Spokesperson Ned Price guarantees actions like these will continue.

“Until President Putin reverses course and relents in his brutal aggression,” Price said.

But Russian forces continue the offensive in Ukraine and President Biden promises the U.S will provide aid.

“We’re going to make sure Ukraine has the weapons to defend themselves from invading Russian forces,” Biden said.

The President warns of what could happen if the Kremlin’s aggression reaches into the rest of Europe.

“It is World War III, but we have a sacred obligation on NATO territory,” President Biden said.

Pentagon Press Secretary John Kirby says it’s up to President Vladimir Putin to de-escalate.

“All of this is by his choice. And all that blood is on his hands and he could stop it right now if he wanted to,” Kirby said.

President Biden also warned there would be consequences for Russia if Ukraine is targeted with nuclear weapons.