Russia-Ukraine updates: US to ban Russian carriers from its airspace

European Union leaders approved a new package of severe sanctions targeting Russia for its invasion of Ukraine.

"Now we have to meet the moment; we will hold the Kremlin accountable," European Commission President Ursula von der Leyen said during a late-night press conference.

The "massive" sanctions will have "maximum impact on the Russian economy and the political elite" by targeting the financial, energy and transportation sectors, she said.

Financial sanctions targeting 70% of the Russian banking market and "key state-owned companies," including defense, will "increase Russia's borrowing costs, raise inflation and gradually erode Russia's industrial base," von der Leyen said.

Additional sanctions include an export ban targeting the oil market and a ban on the sale of spare aircraft parts and equipment to Russian airlines. Under a visa policy, diplomats and other groups will no longer have privileged access to the EU, she said.

Canada also extended sanctions targeting Russia in the wake of the invasion, including restrictions on 58 additional Russian individuals and entities, sanctioning members of the Russian Security Council and restricting exports to Russia.

"Today, we woke up to a changed world," Prime Minister Justin Trudeau said. "Russia has launched a brutal and unprovoked attack on the sovereignty of Ukraine -- a country of more than 40 million people who have sought nothing but peace and freedom. Canada understands what is at stake. We know that the people of Ukraine, in fighting for their lives and their sovereignty, are fighting for us, too. They are fighting for democracy, and we stand with them."

-ABC News' Christine Theodorou

Russian President Vladimir Putin has no plans to call off his invasion of Ukraine, a U.S. official warned ABC News Thursday.

"He is not going to stop," the official said, adding that Putin believes he has the firepower to stop any insurgency. "He is like a madman. ... He wants to take the whole country."

The official also warned that the Ukrainian army is no match for Russia's vast forces.

"Ukrainians don’t have strong air power. One airport looked like they fought back and then Russians paratroopers came in and wiped them out," they said.

The toppling of Kyiv could come quickly and Ukrainian President Volodymyr Zelenskyy may also be killed if he is found, the official said. The president said as much in a TV address, noting he was Russian enemy No. 1 and that his family had gone into hiding.

The official said once a full ground invasion begins there could be a massive refugee crisis, with Ukrainians looking to flee the country and only a few border crossings.

-ABC News' Martha Raddatz

U.S. President Joe Biden has repeatedly said he will not order American forces to engage with Russia in Ukraine, but U.S. Secretary of State Antony Blinken reemphasized America's commitment to NATO's Article 5 during an interview with ABC News' David Muir on Thursday night.

"Is it a possibility that Putin goes beyond Ukraine? Sure, it's a possibility, but there's something very powerful standing in the way of that -- that's something we call Article 5 of NATO," Blinken said. "That means an attack on one member of NATO is an attack on all members of NATO. The president's been very clear that we will defend every inch of NATO territory."

Ukraine is not a member of NATO, though their push for inclusion is one of the main factors that motivated Russian President Vladimir Putin's invasion, but several other countries in the region are NATO members. The Baltic states -- Lithuania, Estonia and Latvia -- joined NATO in 2004, and are fearful of Putin's land grabs.

"It's been very clear that we are committed Article 5, we’re committed to defending our NATO allies, and if it comes to that, we'll do it," Blinken said. "But right now, our focus is on Ukraine, our focus is on trying to prevent President Putin from going even further. But it looks like he's going for everything he can get."

Homeland Security to take lead response to Russia-related impacts in US

The Department of Homeland Security has been tasked "to coordinate domestic preparedness and response efforts related to the current Russia-Ukraine crisis," the agency announced Thursday evening.

The agency said there are no current threats to the U.S. 

Homeland Security said it established a unified group "preparing for and responding to possible threats to the homeland; develop and pursue strategic objectives and priorities; and coordinate with federal, state, local, tribal, and territorial officials, as well as representatives of the private sector and nongovernmental entities in support of these objectives and priorities."

-ABC News' Luke Barr