President Joe Biden has made yet another stark warning to Russian President Vladimir Putin

He says Russia will pay “a terrible price” and face devastating economic consequences if it invaded Ukraine.

Biden also made it clear that sending further troops to Ukraine in the event of an invasion has never been on the table, however the UsS will need to send in more forces to beef up their defences.

Foreign ministers from the G7 member nations have also sent a similar warning to the Kremlin, saying there will be severe and dire consequences if an incursion does take place.

This comes as G7 finance ministers prepare to meet again virtually on Monday to review a range of economic concerns, while also assessing a range of possible sanctions against Russia if they are needed.

Ukraine is accusing Russia of sending tens of thousands of troops to the border in preparation for a full-scale military offensive.

President Putin continues to deny that his government intends to attack Ukraine…but has voiced frustration against NATO’s further deployment of military hardware close to the border.

Meanwhile, Biden says the impact on the rest of the world’s view on Russia will change “markedly” if an invasion occurs.