President Biden warns Putin: Russia will pay a ‘terrible price’ if it invades Ukraine

On Saturday, President Joe Biden said he told Russian President Vladimir Putin that if Russia invades Ukraine, it would pay “a terrible price” including devastating economic consequences.

He added that the possibility of sending U.S. ground troops to Ukraine was “never on the table,” even in the event of a Russian invasion.

“I made it absolutely clear to President Putin .. that if he moves on Ukraine, the economic consequences for his economy are going to be devastating, devastating,” said the president after offering remarks about the deadly tornadoes that swept through many states on Friday.

Biden spoke with Putin over the phone for two hours last week, emphasizing to the Russian president that the country’s standing in the world would change with the decision to invade Ukraine. 

A similar message was sent to Moscow by the Group of Seven richest democracies on Saturday following a meeting in Liverpool, also warning of extreme consequences resulting from the invasion of Ukraine. G7 finance ministers planned to meet on Monday to rehash economic concerns like inflation, but they will also discuss possible sanctions against Russia if moves are made against Ukraine.

While Ukraine has accused Russia of gathering tens of thousands of troops along the Russian-Ukrainian border, Russia has denied that it is planning any attack against the country. Russia has in turn accused Ukraine and the U.S. of destabilizing behavior and added that it needs security guarantees for its own protection.

Last week, President Biden promised NATO members from Central Europe more military support as concerns over the build-up of Russian troops at the border are ongoing. Countries near the border suggest that Russian offensive military action could result in a similar outcome as the 2014 annexation of the Crimea region of Ukraine.