[Asia Economy New York=Special Correspondent Joselgina]U.S. President Joe Biden strongly warned on the 19th (local time) that if Russian President Vladimir Putin launches a full-scale invasion of Ukraine, it would be a "disaster" for the Russian economy.
On the day before the first anniversary of his inauguration, President Biden said at a press conference, "I cannot be sure what he (President Putin) will do," but added, "My guess is he will do something. He has to do something."
He mentioned that amid growing concerns about the possibility of Russia invading Ukraine, he has had "frank discussions" with President Putin over the past few weeks. He continued, "He (President Putin) is trying to find his position between China and the West," and "It does not seem like he wants a full-scale war yet. He will test the West."
He did not forget to issue a strong warning. President Biden raised his voice, saying, "If he invades Ukraine, it will be a disaster for Russia," and "Our allies and partners are prepared to impose severe costs and damage on Russia and the Russian economy." In particular, he emphasized that Russian banks will not be able to settle in 'dollars,' and that future sanctions will include ultra-strong financial sanctions.
He said, "(President Putin) has never seen sanctions at the level I have promised," and "If Russia invades (Ukraine), it will have to be held accountable."
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