French President Emmanuel Macron is calling for an emergency United Nations Security Council meeting and "targeted European sanctions" in the wake of Russian President Vladimir Putin announcing recognition of independence of two Russian-controlled separatist regions in eastern Ukraine's Donbas region.

"This is clearly a unilateral violation of Russia's international commitments and an attack on Ukraine's sovereignty," the Elysée Palace said.

United Nations Secretary-General António Guterres is "greatly concerned" by Putin's decision, which he considers to be a violation of Ukraine's territorial integrity and sovereignty, a spokesperson said.

"The United Nations, in line with the relevant General Assembly resolutions, remains fully supportive of the sovereignty, independence and territorial integrity of Ukraine, within its internationally recognized borders," the spokesperson said. "The Secretary-General urges all relevant actors to focus their efforts on ensuring an immediate cessation of hostilities, protection of civilians and civilian infrastructure, preventing any actions and statements that may further escalate the dangerous situation in and around Ukraine and prioritizing diplomacy to address all issues peacefully."

Ukrainian Foreign Minister Dmytro Kuleba had called for a U.N. Security Council meeting earlier in the day. The U.S. is now backing the call, with Ambassador Linda Thomas-Greenfield saying in a statement that the U.N.’s highest body "must demand that Russia respect the sovereignty and territorial integrity of Ukraine, a UN Member State."

"We must all stand with Ukraine in the face of this brazen attempt to usurp Ukraine's sovereign territory," Thomas-Greenfield said. "There can be no fence-sitters in this crisis."

President Joe Biden will issue an executive order banning "new investment, trade, and financing by U.S. persons to, from, or in the so-called DNR and LNR regions of Ukraine," the White House said, in response to Russian President Vladimir Putin recognizing the self-proclaimed People’s Republics of Donetsk and Lugansk, two Russian-controlled separatist regions in eastern Ukraine's Donbas region.

"This E.O. will also provide authority to impose sanctions on any person determined to operate in those areas of Ukraine," White House press secretary Jen Psaki said in the statement. "We will also soon announce additional measures related to today’s blatant violation of Russia’s international commitments."

Psaki added, "These measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with Allies and partners should Russia further invade Ukraine."

Biden spoke to Ukraine’s President Volodymyr Zelenskyy for 35 minutes while Putin was giving his address, a White House official confirmed. Biden then spoke with French President Emmanuel Macron and German Chancellor Olaf Scholz, according to a White House official.

Russian President Vladimir Putin in an address to the Russian people announced recognition of the two Russian-controlled separatist regions in eastern Ukraine's Donbas region, the self-proclaimed People’s Republics of Donetsk and Lugansk.

“I believe that it’s necessary to take a decision that has long been coming -- to immediately recognize the independence and sovereignty of the Donesk’s People’s Republic and the Lugansk People’s Republic,” Putin said.

Putin also made a menacing warning to Ukraine’s government, telling it to “immediately cease all military action” near the separatist regions or else they will face “full responsibility” for further consequences and bloodshed.

Putin's address laid an aggrieved vision of Russia’s post-Soviet relations with the West and questioned the historical underpinnings of Ukraine’s statehood. Putin said Ukraine was infected with the “virus of nationalism” and blamed Ukrainian politicians and the West for allegedly cynically drumming up divisions.

Putin denounced Ukraine’s 2014 revolution, saying it had not led to the developed “Western” direction it promised, instead claiming it had led to “terror” and to economic failure.

Putin also said he believed that the West would impose sanctions on Russia regardless of what happens.

“A pretext for the next sanctions attack will always be found. Or fabricated. There is one goal to contain the development of Russia,” he said.

The European Commission in a statement said it will react to Putin's decision to recognize the separatist regions with sanctions "against those involved in this illegal act."

Ursula von der Leyen, President of the EU Commission, condemned Putin's decision on Twitter, calling it "a blatant violation of international law, the territorial integrity of Ukraine and the #Minsk agreements."

United Kingdom Prime Minister Boris Johnson also condemned Putin's announcement, saying, "This is plainly in breach of international law -- it's a flagrant violation of the sovereignty and integrity of Ukraine. ... It is a repudiation of the Minsk process and the Minsk Agreements."

"I think it's a very ill omen and a very dark sign," Johnson said, adding, it's "yet another indication that things are moving in the wrong direction in Ukraine."

ABC News' Patrick Reevell, Dimitrije Stejic

Shortly before he was set to speak to the Russian people, Russian President Vladimir Putin informed French President Emmanuel Macron and German Chancellor Olaf Scholz via phone that he intends to sign a decree recognizing the two separatist regions in eastern Ukraine, the Kremlin said in a statement to Russian media.

The Kremlin said Putin informed them about the “outcomes” of his security council meeting and noted that the separatist "republic" had sent appeals asking for recognition due to unverified reports of "military aggression by the Ukrainian government, with massive shelling of the territory of Donbas, as a result of which the civilian population is suffering."

This comes amid a barrage of false reports from Russia and the separatists of supposed Ukrainian attacks. In the last few days, Russia has also made dubious claims of shells falling on Russian territory as Russia builds a pretext for a possible attack on Ukraine, under the guise of coming to the aid of the separatists.

Scholz condemned the plans to recognize the separatist regions, a spokesperson said, calling it a "stark contradiction to the Minsk Agreements for the peaceful settlement of the conflict in eastern Ukraine" and "a unilateral breach of these agreements on the part of Russia."

"During the talks, the [German] Chancellor called on the President of the Russian Federation to immediately de-escalate and withdraw the amassed forces from the border with Ukraine," the spokesperson said.

-ABC News' Patrick Reevell