Held Virtual Meeting With President Putin, President Biden Warns Of Sanctions If Russia Attacks Ukraine

President Joe Biden holds a virtual meeting with Russian President Vladimir Putin. (Twitter @WhiteHouse)

JAKARTA - United States President Joe Biden told Russian President Vladimir Putin on Tuesday, the West feared Russia might attack Ukraine and warned of "strong economic and other measures" as punishment if Moscow started a military conflict, the White House said.

The two leaders held two hours of virtual talks about Ukraine and other disagreements in a video call about US-Russia relations, which have slumped to their lowest point since the end of the Cold War, citing Reuters December 8

The Kremlin, which said before Tuesday's meeting it did not expect a breakthrough, has denied harboring any intention to attack Ukraine and said its troops were in a defensive position.

President Biden voiced "the deep concern of the United States and our European allies about the escalation of Russian forces around Ukraine," the White House said, and "made clear the United States and our allies will respond with strong economic and other action in the event of a military escalation," White House continued.

In addition, President Biden reaffirmed US support for Ukraine's sovereignty and territorial integrity, the White House said, and called for de-escalation and diplomacy. Putin and Biden agreed to be followed up by their team.

The two sides said they hoped the two leaders could hold a face-to-face meeting to discuss relations between the two countries, which have longstanding differences over Syria, US economic sanctions, and alleged Russian cyber-attacks on US companies.

Separately, the Russian Government issued a brief statement following the call. "Talks between Vladimir Putin and United States President Joseph Biden took place via video conference," the Kremlin said.

US officials said before the videoconference President Biden would tell President Putin that Russia and its banks could face the toughest sanctions if they attack Ukraine.

The sanctions, which one source said could target Russia's biggest bank and Moscow's ability to convert rubles into dollars and other currencies, are designed to prevent Putin from using the tens of thousands of troops gathered near the Ukrainian border to attack his southern neighbor.

Meanwhile, Moscow has voiced growing frustration at Western military aid to Ukraine, a fellow former Soviet republic that has leaned toward the West since a popular uprising toppled the pro-Russian president in 2014, and what it calls NATO's creeping expansion.

In addition, Moscow has also questioned Ukraine's intentions and said it wanted assurances Kyiv would not use force to try to reclaim territory lost in 2014 to Russian-backed separatists, a scenario that Ukraine has ruled out.

"We seek good and predictable relations with the United States. Russia never intended to attack anyone, but we have concerns and we have red lines," Kremlin spokesman, Dmitry Peskov said before the talks.

Calling on everyone to remain 'level-headed', Peskov said it was imperative that President Putin and President Biden speak in light of what he called the extraordinary escalation of tensions in Europe.

Previously, Washington accused Russia of gathering troops near the border with Ukraine to intimidate would-be NATO members, suggesting that it could be a repeat of Moscow's 2014 playbook, when it seized the Crimean Black Sea peninsula from Ukraine.

To note, Ukraine and NATO powers have accused Russia of building troops near the border, sparking fears of a possible attack. Moscow denies any such plans and accuses Kyiv of amassing its own forces in its east, where Russian-backed separatists control much of Ukraine.

The United States has urged the two countries to return to a series of largely unimplemented agreements signed in 2014 and 2015 designed to end the war in eastern Ukraine.