White House has not yet decided on Russia sanctions bill

WASHINGTON (Reuters) - The Obama administration has not yet made a decision on whether the president will sign a bill authorising new sanctions against Russia over its activities in Ukraine, a White House spokesman said on Monday.

"This is something that has been the source of some discussions at the White House over the last several days," spokesman Josh Earnest told reporters aboard Air Force One.

Administration officials had said they are deeply concerned about Russia's actions in Ukraine, but they want any sanctions regime to minimise the impact on U.S. business, international oil markets and the global economy.

Obama had said previously he opposed further sanctions on Russia unless Europe is on board.

Congress passed the "Ukraine Freedom Support Act" during the weekend, seeking to put more pressure on President Vladimir Putin's government by authorizing new sanctions on weapons companies and investors in its high-tech oil projects, and to boost the Kiev government with military aid.

It was sent to the White House, where Obama must decide whether to sign it into law or veto it. The measure authorizes sanctions but does not make them mandatory, giving Obama leeway over what would actually be in force.

John Boehner, the Republican speaker of the House of Representatives, issued a statement on Monday urging Obama, a Democrat, to sign the bill.

The rouble plunged around 10 percent against the dollar on Monday, its sharpest fall since 1998, and Russian assets sold off across markets amid concern about possible new U.S. sanctions.

The bill authorises Obama to apply sanctions on Russian state-owned arms exporter Rosoboronexport and other defence companies that Congress say contribute to instability in Ukraine, Georgia and Syria.

It also authorizes sanctions on global companies that make large investments in crude oil drilling projects in deep waters and the Arctic.

The penalties go beyond U.S. and EU sanctions imposed in September on the world's largest oil companies such as Exxon Mobil Corp and BP Plc.

The legislation would also allow $350 million (£223.75 million) in lethal and non-lethal military assistance to Ukraine from 2015 to 2017 and other aid for energy to the country, which has been threatened by cutoffs in natural gas supply from Russia.

(Reporting by Patricia Zengerle, Jeff Mason, Steve Holland and Timothy Gardner; Editing by Mohammad Zargham and Cynthia Osterman)

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