US President Joe Biden was to use a high-stakes videoconference with Russian President Vladimir Putin late yesterday to tell him that Russia would be hit with the toughest economic sanctions yet if it invades Ukraine, US officials said.
They said the sanctions, which a source said could target Russia’s biggest banks and Moscow’s ability to convert rubles into US dollars and other currencies, were designed to dissuade Putin from using thousands of troops massed near the Ukrainian border to attack.
The Kremlin has repeatedly denied harboring such intentions and has said the posture of its troops is purely defensive. It in turn has raised concerns about Ukrainian intentions and has said it wants guarantees that Kiev would not use force to try to retake territory lost to Russia-backed separatists.
Photo: AFP
Ahead of his first direct talks with Putin since July, Biden on Monday consulted with European allies to discuss plans for the sanctions against Russia, and seek a strong allied stance in support of Ukraine’s territorial integrity and sovereignty.
Biden spoke to French President Emmanuel Macron, German Chancellor Angela Merkel, Italian Prime Minister Mario Draghi and British Prime Minister Boris Johnson.
They called on Russia to de-escalate tensions and return to diplomacy, and said their teams would stay in close touch, including in consultation with NATO allies and EU partners, on a “coordinated and comprehensive approach,” the White House said.
Biden’s team has identified a set of economic penalties to impose should Russia launch an invasion, a senior US official said.
A separate source familiar with the situation said targeting Putin’s inner circle has been discussed, but no decision had been made.
CNN reported that the US could include disconnecting Russia from the SWIFT international payment system used by banks around the world.
The secure videoconference, with Biden speaking from the White House Situation Room, was expected to take place at about 11pm Taiwan time.
White House spokeswoman Jen Psaki said it remained unclear whether Putin had made a final decision to invade Ukraine.
Ukraine and NATO powers accuse Russia of building up troops near the border, sparking fears of a possible attack. Moscow denies any such plan and accuses Kiev of building up its own forces in its east, where Russia-backed separatists control a large part of Ukrainian territory.
The US has urged both nations to return to a set of agreements signed in 2014 and 2015, which were designed to end a separatist war by Russian speakers in eastern Ukraine.
“He [Biden] will make clear that there will be very real costs should Russia choose to proceed, but he will also make clear that there is an effective way forward with respect to diplomacy,” the senior US official told reporters.
In Moscow, Kremlin spokesperson Dmitry Peskov said the talks would focus on what Russia regards as NATO’s creeping expansion toward its borders, as well as long-term security guarantees for Russia.
Putin has said he wants legally binding guarantees NATO would not expand further eastward and a pledge that certain types of weapons would not be deployed in nations close to Russia, including Ukraine.
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