Obama: Sanctions show consequence of Ukraine actions

Sanctions on 11 Russians and Ukrainians make it clear that Russia's incursion into the hotly contested Crimean region have consequences, U.S. President Barack Obama said Monday.

The sanctions freeze any assets in the United States. The U.S. has also banned travel into the country of 11 people named as responsible for the Russian move into Ukraine's Crimea region.

They comes a day after a referendum in Crimea aimed at allowing Russia to annex the region—a vote that the U.S. will not recognize since it sees it as illegal.

(Read more: President Obama imposes sanctions over Ukraine)

While Obama said it is still possible to resolve the Crimea situation diplomatically, he added that the U.S. stands ready to impose more sanctions ahead.

—CNBC.com with Reuters

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