Reuters reports that Russia has vowed its own reprisals if western nations, including the U.S. and EU members, follow through with threats of sanctions against it:

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U.S. Secretary of State John Kerry told reporters in Kiev on Tuesday that the U.S. prefers military de-escalation, but if necessary, will “stand by the Ukrainian people” and ‘defend’ their territory by isolating Russia “diplomatically, politically and economically.” Kerry took a swing at President Vladimir Putin, slamming him for sending military forces into the Crimea on false pretexts, charging, “Russia has been working hard to create a pretext to invade further.”

In a shorter address from Washington, U.S. President Barack Obama urged Russia to de-escalate militarily and charged that Russia is violating international law.

The Guardian, which continues to offer live coverage on developments in Ukraine, offers this rundown of Tuesday’s comments by both Kerry and Obama:

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Russia’s President Vladimir Putin addressed the world in a televised press conference Tuesday saying the tense situation in Crimea would not descend into all out war in Ukraine and that military force would only be used as a last resort.

“We will not go to war with the Ukrainian people. If we do take military action, it will only be for the protection of the Ukrainian people,” said Putin, who described those living in the former Soviet block as Russia’s “brothers and sisters.”

He continued: “Ukraine is not only our closest neighbor it is our fraternal neighbor. Our armed forces are brothers in arms, friends. They know each other personally. I’m sure Ukrainian and Russian military will not be on different sides of the barricades but on the same side. Unity is happening now in the Ukraine, where not a single shot has been fired, except in occasional scuffles.”

Those “scuffles” include some tense moments also reported Tuesday between Ukrainian soldiers and those dressed in Russian fatiques who have taken up positions at key points in Crimea, including military installations.

Putin’s remarks came as U.S. Secretary of State arrived in Kiev to offer the newly declared government there the full backing of the United States, including financial and political support. The U.S. has also said that it is preparing a set of diplomatic and financial sanctions against Russia for what it calls hostile interference in the Crimean peninsula, but Putin said such moves by the Obama administration would be “counter-productive.”

According to the Guardian, “A Kremlin aide said on Tuesday that if the US were to impose sanctions, Moscow could be forced to drop the dollar as a reserve currency and refuse to pay off any loans to American banks.”

Though called a “popular revolt” by the U.S. and many of its EU and British allies, Putin said the overthrown of the democratically-elected Viktor Yanukovych more than two weeks ago was nothing less than “an “anti-constitutional coup and a military seizure of power.” Despite that assertion, Putin acknowledged the existence of a new reality in Ukraine.

“Yanukovych has no political future now, I have told him that,” Putin said. He characterized the acting parliament now in Kiev as “partly legitimate” but questioned the authority of some who have asserted power.

In terms of Crimea, Putin said he is not interested in war, but preserving stability and security for those in Ukraine who feel threatened by the new authorities.

“If mayhem breaks out in eastern Ukraine and people ask for help, Russia reserves the right to react, but this is a last resort,” Putin said at the press conference. “It’s a humanitarian mission, we don’t aspire to enslave anyone.”

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