Unlike most world leaders who have sought sanctions against Russia for recognising Ukraine’s rebel-held territories as independent, former US President Donald Trump has lauded it as a “smart” move by Russian President Vladimir Putin.

"I went in yesterday and there was a television screen, and I said, 'This is genius.' Putin declares a big portion of the Ukraine, of Ukraine, Putin declares it as independent. Oh, that's wonderful," Trump said in an interview on "The Clay Travis & Buck Sexton Show" on Tuesday.

On Monday, hours after Putin signed a decree to officially recognise the independence of two separatist regions in eastern Ukraine — Donetsk and Luhansk, he ordered troops into eastern Ukraine.

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Putin instructed his Defence Ministry to assume "the function of peacekeeping" in the separatist-held regions, a move condemned by representatives at a UN Security Council meeting.

Soon after, US announced financial sanctions on banks and oligarchs as punishment as the first tranche of sanctions and Britain Prime Minister Boris Johnson named five Russian banks and three wealthy individuals whom the UK hit with sanctions on Tuesday.

However, Trump hailed Putin as a peacekeeper and even suggested going for similar action on US’ southern border with Mexico.

“So Putin is now saying, 'It's independent,' a large section of Ukraine. I said, 'How smart is that?' And he's going to go in and be a peacekeeper. That's the strongest peace force. We could use that on our southern border,” he said.

Trump called Putin a “savvy” guy whom he knows “very well”. Taking a dig at Biden's administration, he claimed that “this never would have happened” with his administration.

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Meanwhile, in the latest update on the conflict, Putin has authorised a military operation in eastern Ukraine and explosions were heard in the Ukrainian capital of Kyiv and the breakaway eastern Ukrainian city of Donetsk.

US President Joe Biden will meet with his counterparts from the Group of Seven allies early Thursday to map out more severe measures against Russia after President Vladimir Putin launched what Biden called "a premeditated war" against Ukraine.

Biden, who spoke with Ukrainian President Volodymyr Zelenskiy late on Wednesday, said the United States and its allies will respond in "a united and decisive way" to what he called "an unprovoked and unjustified attack by Russian military forces" on Ukraine.

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Follow latest updates on Russia-Ukraine conflict here

(Edited by : Kanishka Sarkar)