U.S. President Barack Obama has signed into a bill providing $1 billion in loan guarantees to cash-strapped Ukraine and sanctioning Russia for its annexation of the Ukrainian region of Crimea, Reutrers reports.

After signing the legislation, Obama met with congressional leaders of both parties to discuss the situation in Ukraine.

Obama briefed House Speaker John Boehner, House Minority Leader Nancy Pelosi, Senate Majority Leader Harry Reid, and Senate Minority Leader Mitch McConnell on his consultations with top world leaders in Europe last week.

A White House official said Obama told the congressional leaders that "the United States continues to lead a coordinated international effort to support Ukraine and isolate Russia for its violation of Ukraine's sovereignty and territorial integrity.