While Biden has warned of economic consequences “like none he’s ever seen” if Russia invades Ukraine, some major European allies have demonstrated less enthusiasm.
Russia has sent some 100,000 troops toward the Ukrainian border, and U.S. officials said Tuesday they believed Russia was capable of launching an attack. Secretary of State Antony Blinken was making a hastily planned trip to Ukraine and Germany ahead of talks with Lavrov in Geneva on Friday.
U.S. work nailing down European commitments against Russia if it invades will continue, said Sen. Chris Murphy, a Connecticut Democrat who traveled with Republican and Democratic senators to Kyiv to meet with Ukrainian leaders last weekend. A Russian invasion of Ukraine would likely trigger the immediate bolstering of defenses of NATO members close to Russia’s borders, like Estonia, Latvia, Lithuania and Poland. NATO already has about 5,000 troops and equipment deployed in those countries. The presence of NATO members along Russia's borders already is one of Putin's central complaints against the West.
Among the European Union and individual European governments, the rhetoric matches that from the White House and Americans: Russia would incur enormous costs of an economic and political nature if Putin sent his forces across the border into Ukraine. But there are questions about how much economic pain Britain is willing to inflict on London’s financial district and property market, which are hubs for Russian money. U.K. banks and financial authorities have long been accused of turning a blind eye to ill-gotten gains.
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