Congress Rushing To Put In Place Russia Sanctions

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Congress is rushing to put in place hard-hitting sanctions on Russia in response to its takeover of Ukraine's Crimean Peninsula.

The hope is Europe will follow the U.S. lead.

The U.S. sanctions push represents a rare case of broad agreement among the Obama administration and Democrats and Republicans in both houses of Congress.

But they're also united in their concern that American economic penalties will mean little without the participation of European countries with far deeper commercial relations with Russia.

The Senate is taking the lead. Its legislation combines loan guarantees to Ukraine's fledgling government and measures against Russian government officials, state-owned banks and companies. It could be introduced as early as next week.