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Latest on the crisis in Ukraine
(ABC) -- President Obama issued new economic threats towards Russia today.
The President says the United States and European leaders are laying the groundwork for more sanctions against sectors of Vladimir Putin's government if Moscow launches a military invasion of Ukraine.
Tensions remain high in Ukraine....and the U.S. and Russia continue their war of words.
"President Putin is not a stupid man, and I think has already acknowledged
that this has had an economic impact might have more severe impact."
No announcement of further sanctions on Russia but the White House has indicated that another round is teed up and ready to go.
President Obama said today the ball is in President Putin's court.
"There's going to come a point when he's going to have to make a fundamental decision. Is he willing to see an economy already faltered weaken further or is he going to use military force and the kind of destabilizing activities that we see so far?"
Last night Secretary of State John Kerry warned of sanctions against more Russian individuals and businesses.
"If Russia continues in this direction, it will not just be a grave mistake, it will be an expensive mistake."
A top Democratic Senator in Ukraine this week said there will certainly be more financial penalties to come.
"There are dozens of banks in Russia, there are billions of Russian assets in dollars in US banks, and we are to go after that under existing authority because that I think will catch Mr Putin's attention."
Russia's foreign minister said today that pro-Russian militants in eastern Ukraine will not put down their weapons until the Ukrainian government does the same.
The standoff has only grown more tense.
Russia has tens of thousands of troops along its border with Ukraine.
And this week the U.S. announced it would start military exercises along Ukraine's western border, with about 600 troops in Poland.