UK Prime Minister David Cameron warns Russian President Vladimir Putin of more economic sanctions if he fails to end backing for separatists in Ukraine. Rough Cut (no reporter narration).
ROUGH CUT, NO REPORTER NARRATION UK Prime Minister David Cameron warned Russian President Vladimir Putin of more economic sanctions and isolation if he failed to end Russian backing for separatist rebels in Ukraine. "But I think President (Vladimir) Putin can see that he is at a cross roads, if he continues to destabilise Ukraine there will be further sanctions, further measures and there will be a completely different relationship between European countries and America on the one hand and Russia on the other. But he knows that there is a different path that he could take," he said at a news conference at the G20 summit in Brisbane. "Although some have said of course that there is a cost to sanctions and there is a cost to sanctions, there would be a far greater cost of allowing a frozen conflict on the continent of Europe to be created and maintained," Cameron added. The measures, aimed at sectors like oil and banking, as well as individuals close to Putin, are squeezing Russia's economy at a time when falling oil prices are straining the budget and the rouble has plunged on financial markets. Putin came in for strong criticism from several leaders at the G20 summit over Russia's backing of pro-Russian rebels in Ukraine, where a conflict has killed more than 4,000 people this year. Western nations have imposed successive rounds of sanctions on Moscow, accusing it of sending troops and tanks to back pro-Russian rebels fighting to break away from Ukraine. Russia denies the charges.