Biden Vows the Russian Stock Market Will Be ‘Disbanded’ the Second it Opens: ‘You Hear Me? It Will Blow Up’

President Joe Biden on Friday defended his decision not to set up a no-fly zone and help transport into Ukraine Polish fighter jets, saying such a move “would be World War III.”

Biden speaking to Philadelphia in an address to the Democratic caucus also laid out the damage done by U.S. sanctions to the Russian economy.

“We’re increasing coordination among the G7 countries. And to target, capture, the yachts. Some of these yachts are 450-feet long. I’m serious. Hundreds of millions of dollars in value. They’re luxury apartments. The totality of our economic sanctions and controls are crushing, crushing the Russian economy,” Biden said.

“The ruble has lost — I know many of you know this in detail, lost more than half its value,” he added.

“ You know what the value of a ruble versus a dollar? You need 200 rubles to equal $1 today. 200,” Biden boasted.

“Moscow stock exchange is closed for a simple reason. Why is it closed? Because for the last two weeks because the moment it opens, it will be disbanded. Hear me? It will blow up. Credit rating agencies have downgraded Russia’s government to junk status. Junk status,” he concluded.

Watch the full clip above, via MSNBC