Biden hasn't even spoke to Putin in two years.
Some believe they are going to just bankrupt Russia. Unfortunately, Americas allies in Europe love Russian oil. In fact, Merkel told Trumps administration when Trumps team warned her about reliance on Russian oil "don't worry, we know how to handle Russia, we know them well, we just need their oil"
Then someone, who knows who, probably the Ukranians or a well funded outfit, caused a rupture in the Nordstream pipeline. It may have decreased Russias revenue but not by much thanks to China. Russia is now manufacturing plenty of tanks etc in their new war economy.
Perhaps Russia will lose so much that they can't cause further harm. What if over time they take all of Ukraine. Or, what if China goes all in for Russian oil and Russia cuts off Europe?