President Obama is calling the downing of a Malaysian airliner an "outrage of unspeakable proportions." Nearly 300 people were killed when the jetliner crashed yesterday in eastern Ukraine. In a statement at the White House, Obama cited evidence that the plane was brought down by a ground-to-air missile. He said at least one American was aboard the plane. The President called for a "credible international investigation" of the crash. He said the eyes of the world are on eastern Ukraine.

The President again called on Russia to take immediate steps to de-escalate tensions in eastern Ukraine. He accused Russia of continuing to back violent separatists there. Obama said Russian President Vladimir Putin has the "most control" over the situation. This week, the U.S. imposed another round of economic sanctions on Russia for its actions in Ukraine, including the annexation of Crimea.

U.S. officials suspect that Russian separatists fired the missile at the airliner but Obama warned about public speculation until all the facts are known. He also spoke out against the spread of misinformation. The President said, quote, "We don't have time for propaganda -- we don't have time for games." Meantime, Obama called the crash a heartbreaking event and expressed condolences to the families of the victims.

(Metro Networks Inc.)