This afternoon, President Barack Obama delivered a statement on the situation in Ukraine and announced new sanctions in key sectors of the Russian economy. President Obama said:
"...Yesterday, I had a chance to speak with Prime Minister Cameron of the United Kingdom, President Hollande of France, Chancellor Merkel of Germany, and Prime Minister Renzi of Italy. We are united in our view that the situation in Ukraine ought to be resolved diplomatically and that a sovereign, independent Ukraine is no threat to Russian interests. But we've also made it clear, as I have many times, that if Russia continues on its current path, the cost on Russia will continue to grow. And today is a reminder that the United States means what it says. And we will rally the international community in standing up for the rights and freedom of people around the world.
"Today, and building on the measures we announced two weeks ago, the United States is imposing new sanctions in key sectors of the Russian economy: energy, arms, and finance. We’re blocking the exports of specific goods and technologies to the Russian energy sector. We’re expanding our sanctions to more Russian banks and defense companies. And we’re formally suspending credit that encourages exports to Russia and financing for economic development projects in Russia."
President Obama continued, "...Russia is once again isolating itself from the international community, setting back decades of genuine progress. And it doesn’t have to come to this -- it didn’t have to come to this. It does not have to be this way. This is a choice that Russia, and President Putin in particular, has made. There continues to be a better choice -- the choice of de-escalation, the choice of joining the world in a diplomatic solution to this situation, a choice in which Russia recognizes that it can be a good neighbor and trading partner with Ukraine even as Ukraine is also developing ties with Europe and other parts of the world.
"I’m going to continue to engage President Putin as well as President Poroshenko and our European partners in pursuit of such a diplomatic solution. But it is important for Russia to understand that, meanwhile, we will continue to support the people of Ukraine, who have elected a new President, who have deepened their ties with Europe and the United States, and that the path for a peaceful resolution to this crisis involves recognizing the sovereignty, the territorial integrity, and the independence of the Ukrainian people."
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