By CNN's Susan Garraty

In the continuing effort to get at Russian President Vladimir Putin where it hurts the most, the White House is encouraging US business leaders to withdraw from planned participation in the St. Petersburg International Economic Forum to be held later this month in Russia.

White House spokesperson Caitlin Hayden tells CNN's State of the Union that participating in the forum is a choice for American businesses, but the Obama administration is letting companies know it takes a dim view of those who choose to go to St. Petersburg while the crisis in Ukraine continues and economic sanctions are in place.

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