"Such an approach could lead to disagreements between the United States and the European Union and is unlikely to change the policy of Moscow," he said at a meeting of the Export Council attended by U.S. business leaders.

"Therefore, the United States and Europe need to be united on the issue of sanctions against Russia," he said.

"If Moscow sees that the coalition between the United States and the EU has no cracks, it will eventually realize that the price of Western sanctions for the Russian economy could outweigh the strategic benefits that it can get as a result of its policy towards Ukraine," Obama said.