President Obama just announced new sanctions against Russian and Ukrainian officials. "We have fashioned these sanctions to impose costs on named individuals who wield influence in the Russian government and those responsible for the deteriorating situation in Ukraine," the White House said in a statement.

Following Sunday's overwhelming vote in favor of secession, Crimea's parliament declared the region's independence from Ukraine on Monday and formally asked to join the Russian Federation. As expected, officials in Kiev, the U.S., and the E.U. have denounced the vote, calling it illegal and threatening sanctions.

In a particularly unsurprising result, Crimea has motioned to secede from Ukraine and join Russia with 95.5% of voters in the referendum in favor of the secession. Western leaders have called the vote "illegal" and have threatened economic sanctions on Russia in response.

[Election commission workers prepare for a referendum at a polling station in Crimea, Ukraine, on Friday. Crimea plans to hold a referendum on Sunday that will ask residents if they want the territory to become part of Russia. Image via Andrew Lubimov/AP.]

U.S. Secretary of State arrived in London on Friday to hold last-ditch talks with Russian Foreign Minister Sergey Lavrov ahead of Sunday's proposed referendum in Crimea, which, if passed, would allow Russia to annex the region from Ukraine. Kerry hopes to delay the vote with threats of sanctions, though it's expected…

A Ukrainian military base in Sevastopol, Crimea is reportedly under siege by Russian forces. No shots have been fired, and the Ukrainian soldiers have taken shelter inside a bunker, according to the commander at a nearby Ukrainian base.

[A Ukrainian Navy officer looks at the scuttled decommissioned Russian vessel "Ochakov" from the Black Sea shore of western Crimea on Thursday. In the early hours of Thursday Russian naval personnel scuttled the ship, blockading access for five Ukrainian Naval vessels now trapped inside of the Southern Naval…

In a statement this afternoon, President Obama said the proposed referendum in Crimea "would violate the Ukrainian constitution and international law." The president also said the sanctions imposed this morning by the U.S. "give us the flexibility to adjust our response going forward based on Russia's actions."

On Thursday, Crimea's parliament voted unanimously to join the Russian Federation and scheduled a referendum on the matter for March 16.

During their meeting today in Paris, Secretary of State John Kerry and Russian Foreign Minister Sergey V. Lavrov failed to broker a face-to-face meeting between Russian and Ukrainian leaders. Kerry and Lavrov will meet again tomorrow in Rome.

Just hours ahead of his scheduled meeting in Paris with Secretary of State John Kerry, Russian Foreign Minister Sergei Lavrov repeated Russia's widely mocked claim that the pro-Russian "self-defense" forces who have seized Crimea are not under Russian command.

President Obama refuted Russian President Putin's claims that troops wearing unmarked uniforms in Crimea are members of local pro-Russian militias, not Russian soldiers. "I don't think that's fooling anybody," Obama said. Meanwhile, Russia reportedly test-fired an intercontinental ballistic missile this afternoon.

According to the spokesman for Ukraine's defense ministry, four Russian Navy ships have surrounded two Ukrainian warships in Crimea and demanded their surrender. If Ukraine fails to comply by 5:00 a.m., Russia reportedly said the ships will be stormed and seized.