WASHINGTON (AP) — President Joe Biden is ready to warn Vladimir Putin during a video call Tuesday that Russia will face economy-jarring sanctions if it invades neighboring Ukraine as Biden seeks a diplomatic solution to deal with the tens of thousands of Russian troops massed near the Ukraine border.

Biden aims to make clear that his administration stands ready to take actions against the Kremlin that would exact "a very real cost" on the Russian economy, according to White House officials. Putin, for his part, is expected to demand guarantees from Biden that the NATO military alliance will ne...