President Joe Biden is meeting by video link today with Russian President Vladimir Putin amid growing tensions over Russia’s buildup of an estimated 100,000 troops along its border with Ukraine. The Biden administration says it’s responding by sending reinforcements to NATO allies in Eastern Europe. On Monday, White House Press Secretary Jen Psaki said the U.S. was prepared to sanction Russia if it launched an invasion of Ukraine. 

Press Secretary Jen Psaki: “On financial sanctions, we have consulted significantly with our allies and believe we have a path forward that would impose significant and severe harm on the Russian economy. You can call that a threat. You can call that a fact. You can call that preparation, whatever you want to call it.”

Russian officials deny they’re planning an invasion of Ukraine. A Kremlin spokesperson Monday called U.S.-Russia relations ahead of Biden’s meeting with Putin “quite lamentable.”