🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Britain - EU to prepare possible new sanctions on Russia over Ukraine

Published 06/03/2015, 09:56
© Reuters. Handout photo of British Foreign Secretary Hammond talking to Ukrainian President Poroshenko prior to their meeting in Kiev

By Wiktor Szary

WARSAW (Reuters) - Britain's foreign minister said on Friday the European Union would prepare possible new sanctions on Russia for its involvement in the Ukraine conflict that could be imposed quickly if the Minsk ceasefire agreement is broken.

Both Kiev and pro-Russia separatists have accused each other of violence since last month's peace deal that calls for heavy weapons to be withdrawn from the frontline in east Ukraine.

"The European Union will remain united on the question of sanctions, sanctions must remain in place until there is full compliance (with the Minsk agreement)," Philip Hammond said.

"We will prepare possible new sanctions, which could be imposed quickly if there is further Russian aggression or if the Minsk agreement is not complied with," he said.

Hammond also said Britain does not have immediate plans to supply Kiev with weapons, but it is "not ruling anything out for the future" as the situation in east Ukraine remains "dynamic".

At a joint conference with his British counterpart in Warsaw, Polish Foreign Minister Grzegorz Schetyna said new sanctions could be imposed if, for example, separatists attack Ukraine's port city of Mariupol, but a move such as excluding Russia from the SWIFT payments system was an extreme option.

"(Exclusion) from SWIFT is the 'nuclear' option, this is an extreme option and there is a long list of sanctions that may be used before that," he said. "Also, the truth is that it is a 'double-edged sword'."

Some 6,000 people have been killed in fighting since separatists took up arms last year in Ukraine's eastern industrial heartland in response to the overthrow of Moscow-backed president Viktor Yanukovich.

The conflict has sent ties between Russia and the West to Cold War-era lows as Kiev, along with the United States and the European Union, say they have evidence that Moscow is arming the rebels and boosting their ranks with Russian soldiers.

© Reuters. Handout photo of British Foreign Secretary Hammond talking to Ukrainian President Poroshenko prior to their meeting in Kiev

Russia has repeatedly denied this and says the United States is pushing Kiev's pro-Western government into war with its own people.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.