Biden says Putin will pay ‘dear price’ if he invades Ukraine

President Joe Biden said he believes Vladimir Putin doesn’t want full blown war in Ukraine and would pay a “dear price” if he moves forward with a military incursion.

Biden, speaking at a news conference to mark his one-year anniversary in office, also said he believes that Russia is preparing to take action on Ukraine, though he doesn’t think Putin has made a final decision. He suggested that he would limit Russia’s access to the international banking system if it did further invade Ukraine.

“I’m not so sure that he is certain what is he going to do,” Biden said. He added, “My guess is he will move in.”

Biden’s comments came hours after U.S. Secretary of State Antony Blinken during a visit to Kyiv accused Russia of planning to reinforce the more than 100,000 troops it has deployed along the Ukrainian border and suggested that number could double “on relatively short order.” Blinken did not elaborate, but Russia has sent an unspecified number of troops from the country’s far east to its ally Belarus, which also shares a border with Ukraine, for major war games next month.

The U.S. president said he believes the decision will “solely” be Putin’s and suggested he was not fully confident that Russian officials with whom top White House advisers have been negotiating are fully informed about Putin’s thinking.

“There’s a question of whether the people they’re talking to know what he’s going to do,” Biden said.

Biden also suggested a “minor incursion” would elicit a lesser response than a full-scale invasion of Ukraine, saying “it’s very important that we keep everyone in NATO on the same page.”

Biden said of Putin, “He is trying to find his place in the world between China and the West.”

Ukraine, meanwhile, said it was prepared for the worst and would survive whatever difficulties come its way. The president urged the country not to panic.