Nightly News   |  March 01, 2014

What’s Obama’s Next Move in the Ukraine Crisis?

President Obama speaks with the Russian president on the phone. Exactly what are his options?

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This content comes from Closed Captioning that was broadcast along with this program.

>> holt: kristen welker is at the white house , and moderator of "meet the press," david gregory , is in our washington bureau. kristen, let me start with you. what do we know about this conversation between presidents obama and putin ?

>> welker: well, lester, it´s been a day of tense diplomacy here at the white house with president obama on the phone with russian president vladimir putin for 90 minutes . the white house says, during that call, the president expressed deep concern that russia has violated ukraine´s sovereignty. and the president told putin he´s going to suspend u.s. participation in prep talks for the upcoming g8 economic summit in sochi, russia . now, mr. obama also warned putin that if he continues to violate international law , there will be political and economic fallout. president obama also shored up support with key allies, speaking with the leaders of france and canada. behind the scenes , the national security team met here as protesters gathered outside the gates, demanding more u.s. action to combat russian aggression.

>> holt: and, david, let me turn to you. simply setting out the planning for a meeting doesn´t sound very tough. what are the options the u.s. has, and what is the specific interest the u.s. has in ukraine?

>> gregory: well, there´s big economic interests for that part of the world. this is a country of 46 million people with the potential economy to really be good for the region, but it´s broke at the moment. and there is u.s. prestige on the line. susan rice , the national security advisor , said on "meet the press" last week it´d be a grave mistake to escalate. and the president just friday afternoon said there would be costs to this kind of intervention. so what are the costs? why is it that russia seems to disregard these warnings from the administration?