WASHINGTON-President Barack Obama on Thursday signed a new package of Russia sanctions into law but won't put them in place, he said in a written statement.

"Signing this legislation does not signal a change in the administration's sanctions policy, which we have carefully calibrated in accordance with developments on the ground and coordinated with our allies and partners," Mr. Obama said. He added, "At this time, the administration does not intend to impose sanctions under this law, but the act gives the administration additional authorities that could be utilized, if circumstances warranted."

Approved by Congress last week, the Ukraine Freedom Support Act of 2014 targets Russian defense and energy interests and authorizes additional military aid to Ukraine.

The bill was passed in response to Russia's military annexation of the Crimean peninsula earlier this year, as well as its involvement in a continuing conflict in neighboring Ukraine.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires