The EU is talking about a possible new round of economic sanctions on Russia with the United States and Britain, but there won't be a decision on Monday, the top diplomat said.
The European Union, along with the United States, imposed economic sanctions on Russia in July 2014, targeting its energy, banking and defence sectors, and is considering taking further measures if Russia tries to invade Ukraine.
Josep Borrell told reporters that they are in deterrent mode, as he arrived for a meeting of EU foreign ministers.
In any case, we will send a clear signal that any aggression against Ukraine will have a high cost for Russia. We are studying what sanctions could be, when and how, in a coordinated manner, with the U.S. and the UK. EU diplomats told Reuters that the discussion was centered on a possible increase in any sanctions, from possible travel bans and asset freezes on powerful members of Russia's political elite to banning financial and banking links with Russia.
Sanctioning the Nord Stream 2 pipeline between Russia and Germany to prevent it becoming operational was an option, as well as targetting more Russian state-owned defence and energy companies or cancelling natural gas contracts.
Such steps were likely to be considered only if the Russian military attempted a full invasion of Ukraine, according to envoys.
NATO Secretary-General Jens Stoltenberg has warned Russia that the Western military alliance is standing by Ukraine amid a large and unusual concentration of Russian troops on Ukraine's borders.
Russia says it has no intention to invade Ukraine and accuses Kyiv of deploying half of the Ukrainian army to fight pro-Russian separatists in the east of the country.