[On the Brink: Ukraine Crisis] Invasion Becoming Reality... Biden Also Says "Putin Seems Likely to Do Something"

[Image source=EPA Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] "If Russia invades Ukraine, it will be a 'disaster' for Russia." U.S. President Joe Biden, approaching his second year in office, predicted that Russia's invasion of Ukraine could become a reality and vowed to impose 'super-strong sanctions' in such a case.

On the 19th (local time), President Biden held a press conference at the White House commemorating his first anniversary in office and stated, "If Russia invades (Ukraine), it will have to be held accountable." He viewed the possibility of an invasion as high, saying that Russian President Vladimir Putin "seems likely to enter (Ukraine). He will have to do something."

He also warned of super-strong sanctions. President Biden raised his voice, saying, "He (President Putin) has never seen sanctions at the level I promised," and "We are prepared to impose serious costs and damage on Russia and the Russian economy." In particular, he hinted at super-strong financial sanctions, saying that Russian banks would not be able to settle in dollars.

This is interpreted as referring to the possibility of excluding Russia from the international financial messaging system (SWIFT). It means blocking Russia's dollar settlements and effectively expelling it from the international financial transaction network. Currently, the Biden administration is also reportedly considering semiconductor export restrictions targeting Russia.

At the same time, when asked whether it is time to lift tariffs imposed on Chinese products, President Biden expressed uncertainty but emphasized that China's promise to purchase American goods must be kept. Although the press conference was held amid North Korea's continued ballistic missile provocations since the beginning of the year, no North Korea-related issues were addressed in the opening remarks or Q&A session.

President Biden, entering his second year in office on the 20th, seemed conscious of his recent declining approval ratings and began the press conference by emphasizing achievements such as COVID-19 vaccinations and job indicators, offering a somewhat self-congratulatory assessment. Regarding criticism of the highest inflation in 40 years, he shifted responsibility, saying it depends on the Federal Reserve (Fed).