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UPDATE: As of 2/27, Vladimir Putin ordered Russia's military to put its deterrence forces, which include nuclear weapons, on "special alert".  He justified the move to his defense chiefs. And said it was because of "aggressive statements" by the West. Widespread condemnation Russia his invasion of Ukraine is being reported. Other nations are sanctioning the move and there are protests within Russia.

The Kremlin promises a “strong” and “painful” response to US and EU sanctions. Radio Free Europe reports that the Russian Foreign Ministry issued a statement saying that there should be no doubt that sanctions will be met with a strong response.

After months of international predictions and warnings, Russian forces began their full-scale invasion of Ukraine on Thursday morning. There were reports of Russian troops crossing the border to the north and south. 

Explosions were heard in multiple cities. This includes the capital Kyiv and Mariupol, the port strategically located on the Sea of Azov. And Putin is sending warnings that Ukrainian forces must lay down their arms to avoid future bloodshed.

Kremlin responds to sanctions

The US launched the first round of sanctions on Tuesday, February 22nd after Russian President Vladimir Putin gave a statement. Putin recognized Ukraine's breakaway regions, Donetsk and Luhansk as independent republics. And claims Russia will send in troops to “protect” them.

The Kremlin through Its Foreign Affairs Ministry said the sanctions were "attempts to change Russia's course." And they would not work.

"There should be no doubt that sanctions will receive a strong response," the FA ministry said. In response to sanctions, Russia would target "sensitive" US assets in retaliation.

"Russia has proved that, despite all the sanctions costs, it can minimize the damage," an official Kremlin statement claims. "And even more so, sanctions pressure is not able to affect our determination to firmly defend our interests." 

On Thursday with the Russian invasion into Ukraine additional sanctions were announced by President Biden.

And the Kremlin said that it was still open to diplomacy with the US. But any sanctions would be met with a fierce response. 

It added: "There should be no doubt that sanctions will receive a strong response, not necessarily symmetrical, but finely tuned and painful to the American side."

US and EU sanctions to cripple Russia finances

The threat of 'crippling' US and EU sanctions for Russia started amid fears of a potential Ukraine invasion. And both have now put the measures in place.

The US sanctions against Russia for the invasion, target the country's sovereign debt. And two of the largest Russian banks along with Russian billionaires and elites. The added sanctions are not limited to Russia. They also target individuals in Belarus. Specifically named is the Belarus defense minister, for the country’s role in helping to facilitate the Russian attack.

On Thursday, EU Commission President Ursula von der Leyen said that the EU sanctions will “weaken Russia’s economic base and its capacity to modernize” following the “barbaric attack” by Russia against Ukraine.

“We will freeze Russian assets in the European Union and stop the access of Russian banks to European financial markets,” she claimed.

Canada, Japan, and Taiwan have also placed individual country sanctions on Russia.

NATO does not bend to Putin's demands

Russia has a well-documented history of aggression toward Ukraine. Yet Putin is blaming the crisis on the West and specifically NATO. Putin has railed against NATO's eastward expansion and demanded that Ukraine and Georgia be permanently barred from the alliance.