US President Biden: Wasn’t calling for regime change in Russia

“I wasn’t calling for regime change in Russia,” US President Joe Biden tried to de-escalate the tensions with Moscow after he previously said, “For God's sake, this man cannot remain in power."

The White House also tried to placate tensions by saying, “The President’s point was that Putin cannot be allowed to exercise power over his neighbors or the region. He was not discussing Putin’s power in Russia, or regime change," the White House said in a statement.”

It’s worth noting that German Chancellor Olaf Scholz also defends US President Biden by saying, “The goal of NATO is not regime change in Russia.”

Also read: Ukraine Pres' Zelenskyy: Ukraine to insist on sovereignty and territorial integrity with talks with Russia

FX reaction

Markets remain cautious despite Biden’s comments as the S&P 500 Futures drop 0.16% by the press time of early Monday morning in Asia.