Frustrated by Russia's involvement in Ukraine, US President Obama says he's joining the EU and imposing new sanctions on Moscow.

(SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING:

"We are blocking the exports of specific goods and technologies to the Russian energy sector. We're expanding our sanctions to more Russian banks and defense companies and we are formally suspending credit that encourages exports to Russia and financing for economic development projects in Russia."

It's by far the strongest international action yet -- designed to get Russia to stop intruding in eastern Ukraine --

And find a diplomatic solution to end the ongoing conflict.

(SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING:

"This is a choice that Russia, and President Putin, in particular, has made. There continues to be a better choice. The choice of deescalation, the choice of joining the world in a diplomatic solution to this situation."

Washington and Ukraine ha