Obama announces new sanctions on Russia

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President Barack Obama says new US and European sanctions will make Russia's weak economy even weaker.

The president said the sanctions will have an even "bigger bite" than previously announced sanctions. The new measures target technology, finance and energy sectors.

Obama said the European Union will join some of those financial sanctions.

When prompted by a reporter, the president said this was not a "new Cold War."

Obama said Russia's support of Ukrainian separatists was unacceptable, and said Russia's continued actions would hurt the country. He also spoke about the rebels' interference into the investigation of the downed Malaysian airliner.