President Obama -- The World's On Fire ... But I Still Got Time for CP3!

He's got drama in Gaza ... outrage in Ukraine ... but President Barack Obama still made time to hang with NBA superstar Chris Paul in Washington D.C. today.

Just minutes after delivering a speech on the situation in Ukraine on the White House south lawn ... Obama went to the Walker Jones Education Campus to meet with the L.A. Clippers to participate in a town hall focusing on the importance of the 'My Brother’s Keeper Initiative.'

FYI -- the MBKI is a program aimed at providing "boys and young men of color" with mentoring, support networks, and the skills they need to find a good job or go to college and work their way into the middle class.

Obama was all smiles during the event -- where he was introduced by Paul himself.

After the event, the President went to the East Room to award the Medal of Honor to Staff Sgt. Ryan M. Pitts for his heroic action in Afghanistan.