President Joe Biden said Wednesday it would be a 'disaster' for Russia if President Vladimir Putin orders an invasion of neighboring Ukraine – as he said he did not know Putin's intentions but said his counterpart doesn't want a 'full-blown war.'
Biden said he wasn't certain of Putin's intentions – saying it may be based on 'which side of the bed he gets up on in the morning as to exactly what he’s going to do.'
'I'm not so sure he is certain what he is going to do. My guess is he will move in. He has to do something,' Biden said, saying that Russia already has intelligence agents operating inside the country.
He also speculated on the issues Putin is weighing, amid the collapse of the old Soviet empire.
'He is trying to find his place in the world between China and the West, 'Biden said.
He said he was 'very concerned' about the situation, which he said could 'very easily get out of hand.' He called it one of the 'most consequential' situations since World War II 'in terms of war and peace.'
'I think he still does not want a full-blown war,' Biden said, warning of the short and long-term consequences it would face.
Biden outlined part of what he said Putin would face in some detail – suggesting that Russia would be black listed and unable to deal in dollars on a global system of interbank electronic transactions – which could take a severe bite out of its economy.
'We find ourselves in a position where … there will be severe economic consequences,' Biden said. 'For example., anything that involves dollar denominations – if they invade, they’re going to pay. Their banks will not be able to deal in dollars. So there's a lot that’s going to happen,' he said.
The president said Russia would pay a 'dear price' through sanctions if it acts, after assembling more than 100,000 troops on the Ukrainian border. But he also
