Putin: military force would be 'last resort' in Ukraine | Vladimir Soldatkin and Alexei Anishchuk

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A Russian navy ship enters the Crimean port city of Sevastopol March 4, 2014. Credit: Reuters/Baz Ratner

March 4, 2014 -- 10:42 a.m. EST -- MOSCOW (Reuters) -- President Vladimir Putin delivered a robust defense of Russia's actions in Crimea on Tuesday and reserved the right to use force in Ukraine as a last resort, but he sought to ease East-West tension over fears of war in the former Soviet republic.

Russia could use all options to protect compatriots who were living in "terror" in Ukraine, Putin told his first news conference since the crisis began, but force was not needed for now. His comments lifted Russian bond markets after a panic sell-off on Monday.

Putin said Western sanctions under consideration against Russia would be counter-productive. A senior U.S. official said Washington was ready to impose them in days rather than weeks.

U.S. Secretary of State John Kerry arrived in Kiev on his first visit since the overthrow of Russian-backed President Victor Yanukovich, describing the experience as "moving, distressing and inspiring."