EU leaders have thought about the consequences of the situation that is happening now in Ukraine, which could damage the economies of European states, writes David Ignatius in the Washington Post.

The US President is trying to influence the opinion of European politicians. 

Biden's most urgent task is to calm panicked European allies who are talking about peace at any cost, fearful of the costs of protracted conflict. 

Earlier, CNN reported that representatives of the United States, Great Britain and the European Union hold regular meetings to discuss the terms of a truce and a diplomatic settlement of the situation in Ukraine without the participation of the Kyiv authorities.