US President Joe Biden announced the suspension of trade relations with Russia, and the ban on the import of vodka, diamonds and seafood as part of an effort to ramp up pressure on Russia for invading Ukraine.

Biden said: "we will continue to pressure Putin in order to forbid Russia from the ability to borrow from international leading institutions, such as the International Monetary Fund and the World Bank.

The US President also stressed that Russia will pay a heavy price if it uses chemical weapons in Ukraine. He added that they would defend democracy in Ukraine and would stand up to Russia and not letting it decide the fate of the world through war.

Besides, he stated that the United States will not fight in Ukraine against Russia because that would lead to a world war.