On Thursday, the Russian ruble fell 0.6% after U.S. President Joe Biden threatened sanctions against Russia in the event of an invasion of Ukraine.
President Biden stated that Russia would face financial, economic, and other sanctions if it invaded Ukraine.
“Our allies and partners are ready to impose severe costs and significant harm on Russia and the Russian economy,” Biden said. That could also be limited access to U.S. dollars, according to Biden.
The United States is concerned that President Putin may decide to invade Ukraine, as he did in 2014 with the military annexation of Crimea, where Russia now has nearly 100,000 troops stationed near the Ukrainian border.