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Biden to warn Putin of economic pain if he invades Ukraine

President Joe Biden is ready to warn Vladimir Putin during a video call Tuesday that Russia will face economy-jarring sanctions if it invades neighboring Ukraine as the U.S. president seeks a diplomatic solution to deal with the tens of thousands of Russian troops massed near the Ukraine border.

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U.S. President Joe Biden will use a high-stakes video convention with Russian President Vladimir Putin afterward Tuesday to inform him that Russia will likely be hit with the hardest financial sanctions but if it invades Ukraine, U.S. officers stated.

They stated the sanctions, which a supply stated may goal Russia’s largest banks and Moscow’s potential to transform roubles into {dollars} and different currencies, had been designed to dissuade Putin from utilizing 1000’s of troops massed close to the Ukrainian border to assault.

The Kremlin has repeatedly denied harbouring such intentions and has stated the posture of its troops is only defensive. It in flip has raised considerations about Ukrainian intentions and has stated it desires ensures that Kyiv is not going to use power to attempt to retake territory misplaced to Russia-backed separatists.

Read more: Turkey urges Russia and Ukraine to de-escalate tensions

The Russian rouble firmed on Tuesday regardless of the specter of new sanctions

Forward of his first direct talks with Putin since July, Biden consulted with European allies on Monday to debate plans for the sanctions towards Russia and search a powerful allied stance in help of Ukraine’s territorial integrity and sovereignty.

Biden spoke to French President Emmanuel Macron, German Chancellor Angela Merkel, Italian Prime Minister Mario Draghi and British Prime Minister Boris Johnson.

They known as on Russia to de-escalate tensions and return to diplomacy and stated their groups will keep in shut contact, together with in session with NATO allies and EU companions, on a “coordinated and complete strategy,” the White Home stated.

Biden’s crew has recognized a set of financial penalties to impose ought to Russia launch an invasion, a senior Biden administration official stated

A separate supply acquainted with the scenario stated focusing on Putin’s inside circle has been mentioned however no resolution had been made. Sanctions towards Russia’s largest banks and the flexibility to transform roubles into {dollars} and different currencies had been additionally being thought of, one other supply stated.

Read more: Russia and Ukraine in EU-backed talks to avoid fresh ‘gas wars’

Uncertainity continues 

White Home spokeswoman Jen Psaki stated it remained unclear whether or not Putin had made a closing resolution to invade Ukraine.

The safe video name, with Biden talking from the White Home Scenario Room, is predicted to happen at about 1500 GMT.

U.S. President Joe Biden delivers remarks on the Construct Again Higher Act and its influence on the price of prescribed drugs throughout a speech within the East Room on the White Home in Washington, U.S

Ukraine and NATO powers accuse Russia of increase troops close to the border, sparking fears of a possible attack. Moscow denies any such plan and accuses Kyiv of increase its personal forces in its east, the place Russian-backed separatists management a big a part of Ukrainian territory.

The senior Biden administration official stated Biden would warn Putin of extreme financial penalties if he launches a battle.

Read more: Biden all set to renew US-Russia relationship

The USA has urged both countries to return to a set of agreements signed in 2014 and 2015 and designed to finish a separatist battle by Russian-speakers in japanese Ukraine.

“He’ll clarify that there will likely be very actual prices ought to Russia select to proceed, however he can even clarify that there’s an efficient manner ahead with respect to diplomacy,” the official informed reporters.

Reuters with additional input by GVS 

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