U.S. President Barack Obama looks on during the Summit on College Opportunity
U.S. President Barack Obama looks on during the Summit on College Opportunity while at the Ronald Reagan Building and International Trade Center in Washington, December 4, 2014. Reuters/Larry Downing

Russia's woes continue as the country now finds itself on the brink of one of its worst possible economic crises. The problem may even pile up as reports about President Barrack Obama giving signal of support for the sanctions arise. Previously, Russia threatened to respond accordingly to the sanctions if the United States will push through with it. Will the country resort to dangerous means as warned?

According to a spokesman, President Obama has agreed to proceed with the Ukraine Act. The legislation aims to mitigate activities of Russian state firms under Western technology and financing according to The New York Times. The legislation also offers $350 million in military equipment and aid to the Ukraine to support its efforts to curb a pro-Russian insurgency. Previously, Obama was against imposing additional sanctions on the country unless the European parties are also on board.

However, Congress made a move to pass the bill without opposition. According to White House Press Secretary Josh Earnest (via The New York Times): "The president does intend to sign the piece of legislation that was passed by Congress."

"But we do have some concerns about that legislation because while it preserves flexibility, it does send a confusing message to our allies because it includes some sanctions language that does not reflect the consultations that are ongoing."

Russia did declare that if the United States will continue with the sanctions then it will have corresponding measures. The threat of "retaliation" followed Sergei Ryabkov's statement to Interfax (via Newsweek). According to the official, the country "will not be able to leave this without a response." He also goes as far to say that the US has "anti-Russian moods."

The sanctions do not bode well for Russia as it continues to struggle with its economic crisis. According to Slate, the country's currency is now set for freefall due to the reported sanctions and declining oil prices. The country's central bank announced that it will increase the key interest rate up to 17 percent. However, many see this as a desperate move.

The question now boils to how Russia plans on responding and in what way.