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Obama Says Additional Sanctions On Russia Would Sting

President Barack Obama on Tuesday said that imposing sanctions on certain key sectors of Russia would hurt the global economy. The G-7 on Monday said it was considering additional sanctions on Russian energy, finance or defense sectors should the country make any further encroachment into Ukraine. "Those will have some disruptive effect to the global economy, but they will have the greatest impact on Russia," Obama said at a press conference with Dutch Prime Minister Mark Rutte. Obama said the West was examining the impact of these sanctions, which would hurt some countries more than others. "Although it could cause some disruptions to each of our economies, or certain industries, what I've been encouraged by is the firmness and the willingness of all countries to look at ways they can participate in this process," Obama said. He called Russia a "regional power" that annexed Crimea out of weakness, not strength.Copyright © 2014 MarketWatch, Inc....

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