The European Union is also expected to add targets to its Russia sanctions list on Monday.
Obama continues to seek unity - and stronger measures - vs. Moscow.
Extraordinary footage catches an attack on a Ukrainian military helicopter.
Russia's currency was downgraded Friday by S&P, and the rating may sink lower if further sanctions are imposed.
Russia's interest rate hike after an S&P downgrade signals growing concern the nation may trade economic growth for territorial ambition.
With escalating tensions in eastern Ukraine, there is speculation that President Putin is repeating a strategy he used in Crimea.
Merkel added that the EU and G-7 nations would consider part two of a potentially three-stage sanction punishment process.
President Barack Obama said he will press European allies to impose more sanctions if Russia steps up action in Ukraine.
Bank of Russia says it will keep rates elevated.
A list featuring Time magazine's "Most Influential People" came out Thursday.
Russia has responded to the killing of pro-Moscow separatists by starting military operations on the Ukrainian border.
Russian users of VKontakte, the "Russian Facebook," react to the removal of the social network's privacy-minded creator and CEO.
Despite the Geneva agreement that provided a conflict-resolution outline for Ukraine, parties including Russia have started to move troops.
The U.S. said further sanctions are ready to be deployed, while Russia's foreign minister accused the U.S. of "running the show" in Ukraine.
The Ukraine crisis has raised fears that gas supplies flowing to several European countries via Ukraine could be disrupted.
U.S. concerns about the global economy, a weakened ruble and the interdependent nature of key industries may be why Russia isn't feeling the heat.
Russian President Vladimir Putin has consistently denied that Russian forces are stationed in eastern Ukraine.
The U.S. will consider more sanctions soon if Russia doesn't move to implement an agreement to ease tensions in Ukraine.
Less than a week after an agreement to resolve the crisis in Ukraine, new violence has been reported in the country's east section.
So far, pro-Moscow separatist gunmen have shown no sign of surrendering government buildings they have seized.
Earlier, President Vladimir Putin said Russia would give Ukraine a month to start paying off the more than $2 billion it owes for natural gas.
Bank of Russia has blocked certain Ukrainian banks from operating in Crimea, leaving residents with little or no access to banking services.