Biden: West to impose export, financial sanctions on Russia if it attacks Ukraine

Western nations will impose financial and export control sanctions and prevent the launch of the Nord Stream 2 gas pipeline in case of a purported Russian aggression against Ukraine, US President Joe Biden told reporters in the White House, TASS said.

"If Russia proceeds, we will rally the world to oppose its aggression.The United States and our Allies and partners around the world are ready to impose powerful sanctions on [and] export controls," he said. "We will put intense pressure on their largest and most significant financial institutions and key industries. These measures are ready to go as soon and if Russia moves."

"And when it comes to Nord Stream 2, the pipeline that would bring natural gas from Russia to Germany, if Russia further invades Ukraine, it will not happen," the US leader added.

He pledged to "impose long-term consequences that will undermine Russia’s ability to compete economically and strategically."

Concerns over Moscow’s alleged preparations for an invasion into Ukraine have become more and more frequent in the West and in Kiev recently. Kremlin Spokesman Dmitry Peskov castigated these statements as an empty and groundless escalation of tension, emphasizing that Russia posed no threat to anyone.