TODAY | March 25, 2014
>>> now we move to the president's trip to europe and this crisis with russia . the u.s. and its closest allies have decided to end russia 's role in the g8 as punishment for actions in crimea. peter alexander in the netherlands traveling with the president this morning. peter, good morning.
>> reporter: savannah, good morning to you. the g8 is no more, now it's the g7, but even before the u.s. and international allies could make the announcement, russia was already dismissing the g8 , calling it an informal club with no membership cards required. here in the netherlands, president obama and the leaders of the g7 nations are stepping up their efforts to isolate russia . after an emergency meeting, the u.s., europe, canada and japan announced moscow will lose the value place in the g8 until it changes course. when it was the g8 , vladimir putin was supposed to host the group's spring summit in sochi, home of the 2014 winter olympic games . now, a change of plans. the summit will, instead, take place in brussels without russia in june. the hague declaration also threatened new sanctions on the arms, banking and energy sectors. a punishment triggered if russia invades eastern or southern ukraine. the cost of inaction is far greater one senior official said. with the u.s. looking to contain the crisis, there's no talk of any international military response, and no discussion of any new sanctions even if russia keeps its hold of crimea. ever since the gorbachev/reagan years, has been to integrate russia .
>> with the decision now to kick russia out of the g8 , that means that strategy's over. that means the idea of integrating russia into the west is done for now. it's the end of the post cold war order.