CBS This Morning reported on "another foreign policy setback" for the Obama administration with the collapse of Middle East peace talks Friday.
Israel halted the accords after an agreement was struck between the terror group Hamas and Fatah, with Prime Minister Benjamin Netanyahu calling the peace talks "essentially buried."
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Obama completed a press conference in South Korea Friday morning, where correspondent Major Garrett reported Obama conceded talks are at an impasse with little optimism in sight.
"There's one door," Obama said. "That is the two parties making some very difficult political compromises in order to secure the future of both Israelis and Palestinians for future generations. We have not yet seen them walk through that door. We will continue to encourage them to walk through that door. Do I expect that they will walk through that door next week? Next month? Or even in the course of the next six months? No."
Garrett said Obama also conceded that sanctions against Russia over the crisis in Ukraine had "failed."
"What we've been trying to do is continually raise the costs for Russia of their actions while still leaving the possibility of them moving in a different direction," Obama said. "And, you know, we'll continue to keep some arrows in our quiver in the event that we see a further deterioration of the situation over the next several days or weeks."