August 12, 2022
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Biden to warn Putin of economic consequences of Ukraine invasion, says official

Biden to warn Putin of economic consequences of Ukraine invasion, says official

WASHINGTON – U.S. President Joe Biden will warn Russian President Vladimir Putin of extreme economic consequences ought to Russia go forward with an invasion of Ukraine, a senior U.S. administration official stated on Monday.

Biden and Putin are to maintain a video name on Tuesday as the US tries to head off Russia from launching army motion in opposition to Ukraine after Moscow massed tens of 1000’s of troops on the Ukraine border.

Biden spoke to the leaders of France, Germany, Italy and Britain forward of the decision on Monday, discussing their “shared concern about the Russian military build-up on Ukraine‘s borders and Russia’s increasingly harsh rhetoric.” In addition they known as on Russia to de-escalate tensions. The official, in a briefing reporters, stated the US has been working with European allies a few robust response ought to an invasion go ahead. He added that the US and Europe would impose extreme economic ache.

“We believe there is a way forward to allow us to send a clear message to Russia that there will be enduring and meaningful costs” ought to an invasion happen, the official stated.

Russia has dismissed U.S. media experiences a few attainable Russian assault on Ukraine, accusing Washington of attempting to worsen the state of affairs whereas blaming Moscow.

U.S. Secretary of State Antony Blinken spoke on Monday with Ukraine President Volodymyr Zelenskiy and reiterated Washington’s “unwavering support” for Ukraine within the face of “Russian aggression,” the U.S. State Division stated.

Zelenskiy stated in a tweet that he and Blinken agreed to proceed “joint and concerted action.”

Russia has a possible diplomatic off-ramp via the Minsk settlement if it needs, the official stated. This can be a beforehand negotiated settlement geared toward ending battle within the Donbas area of Ukraine.

“We’re encouraging Russia to return to dialogue through diplomatic avenues,” the official stated, with out detailing the economic sanctions which might be prepared to be imposed.

However a supply acquainted with the state of affairs stated focusing on Putin‘s inside circle with sanctions had been mentioned and no resolution had been made. The individual added that Biden was not anticipated to get deep into particulars of the potential actions with Putin however as an alternative would warn of economic prices.

One other individual acquainted with the state of affairs stated sanctions in opposition to Russia’s largest banks had been additionally being thought of by the US and its European allies. An alternative choice was going after Russia’s potential to convert rubles into {dollars} and different currencies, the supply stated.

CNN reported the US might embody the intense step of disconnecting Russia from the SWIFT worldwide fee system utilized by banks all over the world.

Bloomberg reported that the U.S. and European allies are weighing sanctions focusing on the Russian Direct Funding Fund in addition to the nation’s potential to convert rubles for {dollars} and different foreign currency echange ought to Putin invade Ukraine.

The U.S. might additionally limit the flexibility of buyers to purchase Russian debt on the secondary market, Bloomberg added, citing folks acquainted with the matter.

The White Home declined remark.

Greater than 94,000 Russian troops are believed to be massed close to Ukraine‘s borders. Ukraine Defense Minister Oleksii Reznikov said on Friday that Moscow could also be planning a large-scale army offensive on the finish of January, citing intelligence experiences.

The U.S. official stated it was nonetheless unclear whether or not Putin had made a closing resolution to launch an invasion.

America doesn’t search battle with Russia however when vital will impose significant consequences for dangerous actions, the official added.

CIA Director William Burns stated that whereas Putin‘s intentions were not clear, he would never underestimate the Russian leader’s “risk appetite.”

“What we do know is that he is putting the Russian military, the Russian security services in a place where they could act in a pretty sweeping way,” Burns stated at a Wall Avenue Journal occasion.

Russia has stated it might probably transfer troops round on Russian territory because it sees match and that they pose no exterior risk.

Ukraine‘s ties with Russia collapsed in 2014 after Moscow-backed forces seized Ukraine‘s Crimean Peninsula, which Kyiv needs again. Kyiv says some 14,000 folks have been killed in combating since then.

For the reason that newest disaster began, Moscow has set out calls for for legally binding safety ensures from the West that NATO won’t admit Ukraine as a member or deploy missile methods there to goal Russia. – Reuters

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