Biden: US forces haven't and won't participate in the Russia - Ukraine conflict VIDEO

Biden: US forces haven't and won't participate in the Russia - Ukraine conflict VIDEO

"Putin has been planning this for months, we've been saying this for a long time. He has amassed more than 170.000 troops at the border. He has rejected all diplomatic efforts by the United States and allies. We have been warning for weeks that this will happen", Biden said.

"They accused Ukraine of genocide and aggression. They recognized the so-called republics on Ukrainian territory. Putin declared war and in just a few moments the missiles began to fall on Ukraine," Biden said.

"Putin is the aggressor. Putin chose this war and now he and his country will bear the consequences. Today I am announcing severe sanctions, the consequences will be severe for the Russian economy. The United States is not doing it alone, but in cooperation with the EU and many partners around the world. I just talked to G7 leaders. We will limit Russia's ability to do business in dollars, pounds and euros," he said.

"The Russian stock market collapsed today. We blocked Russian banks, we cut off Russia from the American financial system. Today, we include four other large banks in the sanctions, including VTB," Biden said.

"We have hit their high-tech industry and will prevent them from modernizing the army. We are also taking steps to defend our allies in NATO. A NATO summit will be held tomorrow, with 30 countries. We will agree on further steps there. Only this year, we've sent $ 650 million worth of military equipment," he said.

"I repeat, the American army will not fight in Ukraine, but we will defend every inch of the territory of NATO members. NATO has never been united like this. I repeat, for NATO, an attack on one member is an attack on all members," Biden said. "NATO activated its defense plan this morning, and I approved the sending of additional troops to emergency response machines," Biden said.

"This aggression cannot go unanswered. America opposes tyrants, America fights for freedom. That is what we are. We are ready for all hacker attacks, we are ready to respond to them," he said.

"I talked to Zelensky last night and told him that the United States is with him and will give him all the support he needs. Ukraine has been independent for the last 30 years and they have shown that they will not tolerate anyone trying to kidnap their country. This is a dangerous moment for the whole of Europe.

"Now it is quite clear what interests Putin and his criminals, he wants an empire at any cost, by changing the borders by force and starting a war for no reason," Biden said.

"Putin's aggression will cost Russia dearly, rest assured. When history is written, it will be written that Putin's aggression on Ukraine left Russia weak and the rest of the world stronger. Putin will not extinguish democracy and freedom. Freedom will win," Biden concluded.

Questions from journalists

"This is already a big conflict. I have no plan to talk to Putin," Biden said.

Who and how will stop Putin? Is he threatening with a nuclear strike? "I don't know what he is threatening, I know what he did. Nobody expects sanctions to stop Putin. The Russians know what Putin did to them, that's what it's about. He won't give up because of sanctions," Biden said.

Does Putin want to go further than Ukraine?

"Yes," Biden said.

Have you underestimated Putin?

"I did not underestimate him. I read everything he said and wrote. You heard what he said, his ambitions are much bigger than Ukraine, he wants to re-establish the USSR. His ambitions are in direct conflict with what the rest of the world wants," Biden said.

"The sanctions we have imposed are stronger than the blockade of the SWIFT system. Two thirds of the world is with us. These are strong sanctions," Biden said.

Are you asking for China's help to isolate Russia?

"I have no comment on that yet," Biden said.

What if Putin goes to a NATO country?

"If he goes to a NATO country, we will get involved," Biden said.

U.S. President Joseph Biden talked with other leaders of the Group of Seven Industrialized Countries (G7) at a virtual meeting today, after accusing Russian President Vladimir Putin of starting a "premeditated war" against Ukraine, the White House said.

The White House stated that the leaders discussed a joint response to the allegedly unprovoked and unjustified attack on Ukraine, the Guardian reports.