US President Joe Biden has said that Washington is preparing “never-before-seen sanctions” for Russia in case the situation around Ukraine escalates
He said Russia would be “catastrophic” if it decides to “conquer” Ukraine.
“If Moscow does this, both in the medium and long term they will have to pay a big price for it. If they invade, they will pay. Their banks will not be able to deal with the dollar”, – Biden said.
However, he believes that such a measure would also hurt the global economy and the US economy in particular.
“I want to make it clear that the serious imposition of sanctions on dollar transactions or other things will have negative consequences for the US and the world as well”, – the president said.
At the same time, he acknowledged that the Russian leader did not want a confrontation. In addition, Biden said they had a mutual understanding during their conversation with Vladimir Putin.
“I think Putin does not want any full-fledged war. Do I think he will test the West, the US and NATO? I think yes, he will”, – Joe Biden suggested.
Earlier it was reported that the US is allowing a ban on chip exports to Russia.