US Secretary of State Antony Blinken holds a joint news conference with his British counterpart at Downing Street following their bilateral meeting in London, Britain May 3, 2021, during the G7 foreign ministers meeting. (Reuters photo)

US Secretary of State Antony Blinken has threatened Russia with massive consequences if it launches any military action in neighboring Ukraine, despite the fact that Moscow has rejected Washington’s allegations of preparing to invade the neighboring country.

Before crucial talks between American and Russian diplomats in Europe next week, Blinken said on Friday, We’re prepared to respond forcefully to further Russian aggression.

But he added that a diplomatic solution is still possible and preferable if Russia chooses it.

American and Russian officials are scheduled to meet on Monday amid US accusations that Russia is planning to invade Ukraine and annex it.

A meeting of the NATO-Russia Council will also take place on Wednesday, and a meeting of the Organization for Security and Co-operation in Europe’s (OSCE) permanent council, of which Russia is a member, will be held on Thursday.

The Russian government last month made demands on NATO and Ukraine about the future of their relationship. Moscow demanded the Western military alliance deny Ukraine membership to NATO and to roll back its military deployments.

Moscow also proposed that the US not establish any military bases in former Soviet states that are not part of NATO, nor develop a bilateral military alliance with them.

Biden has also threatened Russian President Vladimir Putin with severe sanctions if Russia launches any military action in neighboring Ukraine.

Biden told reporters last week that he issued the threat to the Russian leader during their last phone call.

I made it clear to President Putin that if he makes any more moves if he goes into Ukraine, we will have severe sanctions. We will increase our presence in Europe with our NATO allies. There will be a heavy price to pay for it, Biden told reporters a day after the December 30 call.

On Friday, Blinken echoed that message, saying that America and its allies are prepared to take harsh economic measures against Russia.

Our goal is to have a relationship with Russia that is predictable and stable, so that we can cooperate when it’s in our mutual interest, and address our differences with an open and frank dialogue, he said.

It’ll be very difficult to make actual progress if Russia continues to escalate its military buildup and its inflammatory rhetoric. And we’ve been clear with Russia about what it will face if it continues on this path, including economic measures that we haven’t used before - massive consequences, he said.

Meanwhile, Russia has previously warned the US that extensive sanctions against it would be a colossal mistake.