United States President Barack Obama said Friday that the US and European Union are still prepared to impose sanctions against Russia if the crisis in Ukraine continues to escalate following the signing of a ceasefire agreement.

Speaking in Newport, Wales at the close of a major NATO alliance summit, Pres. Obama expressed skepticism over a pact signed only hours earlier in Minsk during a meeting of representatives from Kiev, Lugansk and Donetsk, and said the US intends to go ahead with new sanctions revealed by the White House on Thursday this week.