State Department spokesman Ned Price reiterated that President Joe Biden will warn Russian President Vladimir Putin of severe economic consequences should Russia go ahead with an invasion of Ukraine
Biden and Putin are to hold a video call on Tuesday as the United States tries to head off Russia from launching military action against Ukraine after Moscow massed tens of thousands of troops on the Ukraine border.
U.S. Secretary of State Antony Blinken spoke on Monday with Ukraine President Volodymyr Zelenskiy and reiterated Washington's "unwavering support" for Ukraine in the face of "Russian aggression," the U.S. State Department said.Russia has a potential diplomatic off-ramp through the Minsk agreement if it wishes, the official said. This is a previously negotiated agreement aimed at ending war in the Donbas region of Ukraine.
Another person familiar with the situation said sanctions against Russia's biggest banks were also being considered by the United States and its European allies. Another option was going after Russia's ability to convert rubles into dollars and other currencies, the source said. Bloomberg reported that the U.S. and European allies are weighing sanctions targeting the Russian Direct Investment Fund as well as the country's ability to convert rubles for dollars and other foreign currencies should Putin invade Ukraine.
The United States does not seek conflict with Russia but when necessary will impose meaningful consequences for harmful actions, the official added.
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