Obama signs Russia sanctions Bill, says no new penalties planned

President Barack Obama (above) said on Thursday he had signed into law a new Russian sanctions Bill passed by Congress but did not intend to impose further sanctions against Moscow for now. -- PHOTO: REUTERS
President Barack Obama (above) said on Thursday he had signed into law a new Russian sanctions Bill passed by Congress but did not intend to impose further sanctions against Moscow for now. -- PHOTO: REUTERS

WASHINGTON (REUTERS) - US President Barack Obama said on Thursday he had signed into law a new Russian sanctions Bill passed by Congress but did not intend to impose further sanctions against Moscow for now.

"My administration will continue to work closely with allies and partners in Europe and internationally to respond to developments in Ukraine and will continue to review and calibrate our sanctions to respond to Russia's actions," Mr Obama said in a statement.

"We remain prepared to roll back sanctions should Russia take the necessary steps."