Biden warns Putin of economic consequences of Ukrainian invasion, Reuters official says

By Steve Holland, Jeff Mason and Susan Heavey

WASHINGTON (Reuters) – US President Joe Biden warns Russian President Vladimir Putin of serious economic consequences if Russia were to move forward with the invasion of Ukraine, a senior US administration official said on Monday.

Biden and Putin will make a video call on Tuesday as the United States tries to prevent Russia from launching military action against Ukraine after Moscow drew tens of thousands of troops on the Ukrainian border.

The official, briefing reporters before the call, said the U.S. was working with European allies on a strong response if the invasion went ahead. He said the United States and Europe would inflict severe economic damage.

Biden had planned to consult with European allies on the same day, stressing the need for solidarity, he said.

“We believe that there is a way forward and a clear and significant cost for Russia to send a clear message to Russia,” he said.

Russia rejects https://www.reuters.com/world/europe/russia-dismisses-us-media-reports-about-possible-ukraine-offensive-2021-12-04 US media outrage over Russia’s possible attack on Ukraine reports accuse Washington of trying to exacerbate the situation while blaming Moscow.

U.S. Secretary of State Antony Blinken was scheduled to meet with Ukrainian President Volodymyr Zelensky on Monday and Biden was scheduled to speak with him in the days following the call, the official said.

Russia wants a diplomatic exit through the Minsk agreement, the official said. It is a pre-negotiated agreement to end the war in the Donbas region of Ukraine.

“We are encouraging Russia to return to dialogue through diplomatic channels,” he said.

The official did not specify the financial penalties he was willing to impose.

A source familiar with the situation said that the targeting of Putin’s inner circle with sanctions has been discussed but no decision has been made.

CNN reported that the United States could take the extreme step of disconnecting Russia from the SWIFT international payment system used by banks around the world.

The White House has declined to comment.

More than 94,000 Russian soldiers are believed to be crammed near the Ukrainian border. Ukrainian Defense Minister Oleksii Reznikov said on Friday that https://www.reuters.com/world/europe/large-scale-russian-offensive-possible-january-ukraine-says-2021-12-03 is planning a big Moscow. -scale military attack in late January, citing intelligence reports.

U.S. officials say it is not yet clear whether Putin made the final decision to launch the invasion.

The United States is not seeking a conflict with Russia, but will impose significant consequences for harmful actions when necessary, the official added.

Russia has said it will move troops into Russian territory as it sees fit and pose no external threat.

Ukraine’s relations with Russia collapsed in 2014 after Moscow-backed forces sought to return Kiev to take eastern Ukraine. Kiev says about 14,000 people have been killed in fighting since then.

Since the last crisis began, Moscow has called for legally binding security guarantees in the West that NATO will not accept Ukraine as a member or set up missile systems there to attack Russia.