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Obama Signs New Sanctions Bill, No New Penalties Planned

U.S. President Barack Obama and first lady Michelle Obama arrive for a Hanukkah reception in the Grand Foyer of the White House in Washington on Dec. 17, 2014.

President Barack Obama said Thursday that 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," Obama said in a statement.

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

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