Biden says European leaders in 'total unanimity' after call on Russia-Ukraine situation

Concerns of military action in eastern Europe rattled markets on Monday, but they rallied to recovery

President Biden on Monday afternoon held a call with NATO allies to discuss concerns about Russia invading Ukraine and assured the press afterward that the European leaders he spoke with are in "total unanimity" as to their approach.

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President Joe Biden speaks during a meeting with the White House Competition Council in the East Room of the White House.  (Photo by Alex Wong/Getty Images / Getty Images)

"I had a very, very, very good meeting, total unanimity with all the European leaders. We'll talk about later," Biden said Monday at the White House to reporters in answer to a question.

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U.S. markets took a wild ride on Monday after jitters over a Russian military buildup on Ukraine's borders and confirmation that thousands of American troops have been put on high alert over the escalation sent stocks on a nosedive. But the losses were erased by the closing bell following news of the NATO member talks.

A readout of the discussion released by the White House stated that Biden and European leaders "reiterated their continued concern about the Russian military build-up on Ukraine's borders and expressed their support for Ukraine's sovereignty and territorial integrity."

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New York Stock Exchange (Courtney Crow/New York Stock Exchange via AP / AP Newsroom)

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"The leaders underscored their shared desire for a diplomatic resolution to the current tensions and reviewed recent engagements with Russia in multiple formats," the readout went on to state, adding that those on the call "also discussed their joint efforts to deter further Russian aggression against Ukraine, including preparations to impose massive consequences and severe economic costs on Russia for such actions as well as to reinforce security on NATO’s eastern flank."

Leaders on the secure video call included French President Emmanuel Macron, German Chancellor Olaf Scholz, Italian Prime Minister Mario Draghi, Polish President Andrezej Duda, British Prime Minister Boris Johnson, European Commission President Ursula von der Leyen, European Council President Charles Michel and NATO Secretary General Jens Stoltenberg.

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Stoltenberg tweeted afterward that the participants had a "great meeting" and that they all "agree that any further aggression by #Russia against #Ukraine will have severe costs."