President Barack Obama said Thursday that he has signed an executive order giving the United States authority to impose sanctions on "key sectors of the Russian economy" if necessary in light of Russia's "dangerous risks of escalation" in Ukraine.

"These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy," Obama warned. "However, Russia must know that further escalation will only isolate it further from the international community."

Obama also announced that the United States will impose further sanctions on Russian individuals with "substantial resources and influence" on Russian leadership and on a bank that has provided "material support" to those individuals.

A senior administration official told reporters after the president's remarks that there are 20 individuals who have been newly targeted for sanctions, including a top aide to President Vladimir Putin and Putin's personal banker as well as the chairman of Russian Railways.

Read more at: http://www.nbcnews.com/storyline/ukraine-crisis/obama-u-s-could-target-key-sectors-russian-economy-n57701

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