President Barack Obama announces new sanctions against Russia, progress with Iran and a plea for peace in Israel-Gaza conflict. Nathan Frandino reports.
New sanctions are on the way for Russia. Key institutions like Gazprombank and Rosneft Oil Co. are among a dozen companies hit in the latest round of sanctions. President Barack Obama announced the measures Wednesday over what his administration views as Moscow's interference in Ukraine. (SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING: "These sanctions are significant, but they are also targeted, designed to have the maximum impact on Russia while limiting any spillover impact on American companies or those of our allies." Moscow has been accused of providing arms to pro-Russian separatists in Ukraine's east. During the wide-ranging news conference, Obama also commented on the talks with Iran over its nuclear program. (SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING: "It is clear to me that we have made real progress in several areas and that we have a credible way forward. But, as we approach a deadline of July 20, under the interim deal, there are still some significant gaps between the international community and Iran and we have more work to do." Lastly, the president condemned the ongoing violence between Israel and militants in the Gaza Strip. (SOUNDITE) (English) PRESIDENT BARACK OBAMA SAYING: "The Israeli people and Palestinian people don't want to live like this. They deserve to live in peace and security free from fear and that's why we're going to continue to encourage diplomatic efforts to restore the ceasefire." The conflict has killed 215 people in Gaza and one in Israel.