US President Joe Biden issued a warning to Russian President Vladimir Putin on Wednesday amid signs that Russia is planning an invasion in Ukraine.

"It is going to be a disaster for Russia if they further invade Ukraine," Biden said in a press conference to mark a year of his presidency.

He added that Putin "will be held accountable" and has "never have seen sanctions like the ones I promised will be imposed" if Russia makes further moves against Ukraine.

Biden predicted a Russian invasion of Ukraine, though he suggested a "minor incursion" would elicit a lesser response than a full-scale invasion of the country.

"I'm not so sure he is certain what he is going to do. My guess is he will move in. He has to do something," Biden said of Putin, describing a leader searching for relevance in a post-Soviet world: "He is trying to find his place in the world between China and the West."

He also commented on the nuclear talks with Iran, noted that progress is being made in talks and now is not the time to give up on a diplomatic solution.

"It's not time to give up, there is some progress being made," Biden said, adding the group of countries negotiating alongside the United States with Iran are "on the same page."

Biden also said he is optimistic that Congress will pass large chunks of his climate, education and healthcare proposal.

“I’m confident we can get pieces, big chunks of Build Back Better signed into law,” the President said.

He highlighted what he viewed as accomplishments in his first year in office during the news conference, including millions of Americans getting vaccinated against COVID-19 and job gains.

“It’s been a year of challenges but it’s also been a year of enormous progress,” he said. “Still for all this progress, I know there’s a lot of frustration and fatigue in this country. We know why—COVID-19.”

“Some people may call what’s happening now the new normal. I call it a job not yet finished,” he added. “We’re not there yet, but we will get there.”

Biden stressed that the US would not go back to lockdowns and closed schools that were common in the earlier stages of the pandemic.

Asked about some schools closing amid a surge in cases of the Omicron variant, the President replied, "very few schools are closing."

"Over 95% are still open. So you all phrase the questions when — I don't think it's deliberate on your part, but you phrase the question when everyone watches this on television. All those schools must be closing. What are we going to do? 95% are still open," he added, before listing a number of items that his administration has done to try to make sure that schools are safe.

"We had the ability to provide the funding through the Recovery Act, through the act that – the first act we passed to be able to make sure schools were able to be safe. So we have new ventilation systems available for them. We have the way they handle a scrub down ... the bathroom, cafeterias, buses, et cetera," the President said.

He said that there are billions of dollars being made available by the government for schools, including $10 billion for testing of students in the schools.

Biden also acknowledged that Americans are struggling with the high cost of living and threw his weight behind the Federal Reserve’s efforts to fight inflation

“We need to get inflation under control,” Biden said, adding that price stability is the responsibility of the Fed.

“The critical job of making sure elevated prices don’t become entrenched rests with the Federal Reserve, which has a dual mandate: full employment and stable prices,” he stated.

Biden noted that Americans are seeing rapid price increases at grocery stores, at the gas pumps and elsewhere.

“Given the strength of our economy and pace of recent price increases, it’s appropriate…as Fed Chairman Powell has indicated, to recalibrate the support that is now necessary.”

Biden added that he respects the independence of the Fed while also detailing his administration’s efforts to fight inflation, including by unclogging supply chains and cracking down on unfair market competition.

The President did not hesitate when asked if he was satisfied with Vice President Kamala Harris' work on voting rights and if she would be his running mate in 2024.

"Yes, and yes," Biden fired back to the question.

"She's going to be my running mate, number one. And number two, I did put her in charge [of voting rights]. I think she's doing a good job," he added.

Biden defended the US withdrawal from Afghanistan nearly five months later, saying, "Raise your hand if you think anyone was going to be able to unify Afghanistan under one single government? It's been the graveyard of empires for a solid reason: It is not susceptible to unity."

Citing the weekly spending of nearly one billion dollars to keep American forces in the state, Biden noted what he called no possibility at a peaceful resolution.

"The question was, do I continue to spend that much money per week in the state of Afghanistan knowing that the idea that being able to succeed, other than sending more body bags back home, is highly, highly unusual," he said.

"There is no way to get out of Afghanistan after 20 years easily. Not possible, no matter when you did it. And I make no apologies for what I did," the President added, before expressing empathy for the lives lost amid the withdrawal.

"I have a great concern for the women and men who were blown up on the line at the airport by a terrorist attack against them," he said.