Brendan Smialowski/AFP/Getty Images

President Obama says he's deeply concerned about reports of Russian military deployments into the Crimean region of Ukraine.  In a White House statement, Obama warned Russia that any violation of Ukraine's territorial integrity would be deeply destabilizing.  He also warned about unspecified "costs" if Russia intervenes militarily.  The President argued that the U.S. and allies fully support Ukraine's sovereignty as transitional government efforts move forward.   

Earlier, White House spokesman Jay Carney said any Russian intervention in Ukraine would be a "grave mistake."  Secretary of State John Kerry said he has been repeatedly assured by Russian officials that they do not intend to violate the sovereignty of Ukraine.  The situation inside Ukraine has been chaotic since before Ukrainian President Viktor Yanukovich was stripped of power last week.  Yanukovich has fled to Russia, but insists he is still the president.  (Metro Networks Inc.)