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Transcripts For CNBC Closing Bell 20140801

In delivering on what we said we would do. We cant control how mr. Putin thinks, but what we can do is say to mr. Putin, if you continue on the path of arming separatists with heavy armaments that evidence suggests may have resulted in 300 innocent people on a jet dying and that violates International Law and undermines the territorial integrity and sovereignty of ukraine, then youre going to face consequences that will hurt your country. And there was a lot of skepticism about our ability to coordinate with europeans for a strong series of sanctions. And each time we have done what we said we would do, including this week when we put in place sanctions that have an impact on key sectors of the russian economy, their energy, their defense, their financial systems. It hasnt resolved the problem yet. I spoke to mr. Putin this morning, and i indicated to him, just as we will do what we say we do in terms of sanctions, well also do what we say we do in terms of wanting to resolve this issu

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