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The President: Good morning, everybody.
I wanted to provide an update on the situation
in Ukraine and the steps that the United States
is taking in response.
Over the last several days, we've continued
to be deeply concerned by events in Ukraine.
We've seen an illegal referendum in Crimea;
an illegitimate move by the Russians to annex Crimea;
and dangerous risks of escalation, including
threats to Ukrainian personnel in Crimea and threats
to southern and eastern Ukraine as well.
These are all choices that the Russian government has
made -- choices that have been rejected by the
international community, as well
as the government of Ukraine.
And because of these choices, the United States
is today moving, as we said we would,
to impose additional costs on Russia.
Based on the executive order that I signed
in response to Russia's initial intervention
in Ukraine, we're imposing sanctions
on more senior officials of the Russian government.
In addition, we are today sanctioning a number of
other individuals with substantial resources and
influence who provide material support to the
Russian leadership, as well as a bank that
provides material support to these individuals.
Now, we're taking these steps as part of our
response to what Russia has already done in
Crimea.
At the same time, the world is watching with
grave concern as Russia has positioned its
military in a way that could lead to further
incursions into southern and eastern Ukraine.
For this reason, we've been working closely with
our European partners to develop more severe
actions that could be taken if Russia continues
to escalate the situation.
As part of that process, I signed a new executive
order today that gives us the authority to impose
sanctions not just on individuals but on key
sectors of the Russian economy.
This is not our preferred outcome.
These sanctions would not only have a significant
impact on the Russian economy, but could also be
disruptive to the global economy.
However, Russia must know that further escalation
will only isolate it further from
the international community.
The basic principles that govern relations between
nations in Europe and around the world must
be upheld in the 21st century.
That includes respect for sovereignty and
territorial integrity -- the notion that nations
do not simply redraw borders, or make decisions
at the expense of their neighbors simply
because they are larger or more powerful.
One of our other top priorities continues
to be providing assistance to the government
of Ukraine so it can stabilize its economy and meet the basic
needs of the Ukrainian people.
As I travel to Europe next week to meet with
the G7 and other European and Asian allies,
I once again urge Congress to pass legislation that
is necessary to provide this assistance --
and do it right away.
Expressions of support are not enough.
We need action.
I also hope that the IMF moves swiftly to provide
a significant package of support for Ukrainians
as they pursue reforms.
In Europe, I'll also be reinforcing a message
that Vice President Biden carried to Poland and the
Baltic states this week: America's support
for our NATO allies is unwavering.
We're bound together by our profound Article 5
commitment to defend one another, and by a set
of shared values that so many generations
sacrificed for.
We've already increased our support
for our Eastern European allies, and we will continue
to strengthen NATO's collective defense,
and we will step up our cooperation with Europe
on economic and energy issues as well.
Let me close by making a final point.
Diplomacy between the United States
and Russia continues.
We've emphasized that Russia still
has a different path available -- one that de-escalates
the situation, and one that involves Russia
pursuing a diplomatic solution with the
government in Kyiv, with the support
of the international community.
The Russian people need to know, and Mr. Putin needs
to understand that the Ukrainians shouldn't have
to choose between the West and Russia.
We want the Ukrainian people to determine their
own destiny, and to have good relations with the
United States, with Russia, with Europe,
with anyone that they choose.
And that can only happen if Russia also recognized
the rights of all the Ukrainian people
to determine their future as free individuals,
and as a sovereign nation -- rights that people and nations
around the world understand and support.
Thank you very much, everybody.