Wilmington: US President Joe Biden on Saturday said he had made it clear to Russian President Vladimir Putin that Russia would pay “a terrible price” and face devastating economic consequences if it invaded Ukraine.

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, Biden said.

Biden, who spoke with Russian President Putin by telephone for two hours last week, said he told the Russian leader clearly that Russia’s standing in the world would change “markedly” in the event of an incursion into Ukraine.