Russian threat to Ukraine, annexation of Crimea to dominate Obama overseas visit

President in Europe: Putin, Ukraine overshado... 01:38

President Obama is focusing on Crimea as he visits the Netherlands. Speaking in Amsterdam, the president insisted that Russia will pay a price for taking over that region.

"Europe and America are united in our support of the Ukrainian government and Ukrainian people," he said. "We are united in imposing a cost on Russia for its actions so far."

The president is spending Monday at a Nuclear Security Summit in The Hague.

Russia's threat to Ukraine and its annexation of Crimea will dominate events, CBS News chief White House correspondent Major Garrett reported. President Obama will attend an emergency meeting of the G-7 -- the world's top global economies -- to see if tougher economic sanctions can be imposed.

U.S. sanctions against Russia: Will they have... 04:54
While the president says Russia faces more economic hardship if it doesn't reverse course in Crimea, it's unclear just how far European nations are prepared to go to put their substantial economic and energy ties with Russia at risk.

What is clear is that Russian President Vladimir Putin has not flinched under economic pressure applied so far. Russia's troop movements along Ukraine's border have put allied nations on edge and they're collectively groping for a more forceful strategic response.

President Obama will also meet with Chinese President Xi Jinping. The key to that meeting will be to nudge China to confront Russian more directly over the Crimea crisis.

China did side with the U.S. by not vetoing a U.N. Security Council resolution upholding Ukraine's sovereignty. But the White House believes China can do more and would like it to try.