U.S. State Department spokesperson Ned Price on Wednesday outlined some of the sanctions the Biden administration is imposing on Russia after the White House declared Russian troop deployments in Eastern Ukraine an "invasion."

This includes sanctions on Russia’s Nord Stream 2 pipeline, which he called a “billion-dollar project” that’s “now a hunk of steel at the bottom of the sea.”

Price added that if Russia continues its aggression, further sanctions will be imposed.

The U.S. and key European allies accuse Moscow of having already crossed a red line by formalizing a military deployment to regions of eastern Ukraine controlled by Russia-backed separatists.

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