The United States will announce new sanctions Monday against Russia for its ongoing involvement in neighboring Ukraine.
President Barack Obama said Monday the sanctions against individuals and companies will build on a set already in place targeting some banking activities and corporate officials close to Russian President Vladimir Putin.
"The goal here is not to go after Mr. Putin personally. The goal is to change his calculus with respect to how the current actions that he is engaging in in Ukraine could have an adverse affect on the Russian economy over the long-haul, and to encourage him to actually walk the walk and not just talk the talk when it comes to diplomatically resolving the crisis in Ukraine."
Mr. Obama said Ukraine has abided by an international agreement reached in Geneva earlier this month that set out concrete steps to resolve the crisis. He told reporters during a trip to the Philippines that Russia has not taken comparable actions.
"There is a path here to resolve this, but Russia has not yet chosen to move forward, and these sanctions represent the next stage in a calibrated effort to change Russia's behavior."
The president said if Russia shows further aggression against Ukraine, then the United States could take additional steps, including broader sanctions against sectors such as banking or the defense industry.