More sanctions coming due to Crimea crisis, Obama warns Russia

The Autonomous Republic of Crimea declared independence from Ukraine on March 17 and formally applied to become part of Russia following a referendum a day earlier, in which nearly 97 percent of the participants voted in favor of the move.
 
On March 21, Russian President Vladimir Putin signed into law the documents officially making Crimea part of the Russian territory. He said the move was carried out based on the international law.
 
According to the White House, Obama discussed the situation in Ukraine with German Chancellor Angela Merkel on Thursday.
 
He spoke to Merkel from aboard Air Force One as he returned to Washington from Texas.
 
The two leaders talked about potential further sanctions on Russia over its actions in Ukraine.
 
Obama told Merkel that the US, the European Union and their allies should prepare new sanctions against Russia if Moscow escalates the crisis in Ukraine.
 
They also called on Moscow to withdraw its forces back from the border with Ukraine.
 
The White House said the two leaders will continue their talks during Merkel’s upcoming visit to Washington.
 
Earlier in the day, US Treasury Secretary Jacob Lew threatened Russia with "additional significant sanctions" over the situation in Ukraine.
 
Lew made the remarks during a meeting with Russian Finance Minister Anton Siluanov on the sidelines of the International Monetary Fund and World Bank spring meetings at the IMF headquarters in Washington.
 
Lew described Crimea’s integration into Russia as “illegal and illegitimate” and said the US “is prepared to impose additional significant sanctions on Russia if it continues to escalate the situation” in Ukraine.