Biden: Russian banks get isolated from dollars in case of invasion

WASHINGTON, Jan 20 (PRIME) -- Russian banks will be unable to deal in U.S. dollars in case of invasion of Ukraine, U.S. President Joe Biden said during a news conference at the White House on Thursday.

“It is going to be a disaster for Russia if they further invade Ukraine, and… our allies and partners are ready to impose severe costs and significant harm on Russia and the Russian economy,” he said.

“Anything that involves dollar denominations, if they make – if they invade, they’re going to pay; they’re not going – their banks will not be able to deal in dollars.”

Biden also said that serious anti-Russian sanctions including prohibition of operations in U.S. dollars, will be negative for the U.S. economy as well.

“The serious imposition of sanctions relative to dollar transactions and other things are things that are going to have a negative impact on the United States, as well as a negative impact on the economies of Europe as well, and a devastating impact on Russia,” he said.

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