Finance ministers of the European Union will meet from February 25-26 to elaborate on tougher sanctions against Russia, French Finance Minister Bruno Le Maire said on Wednesday.
"We have left in reserve much more severe sanctions against Russia in case [Russian President] Vladimir Putin continues his policy of violating international law. We are working on them. There will be a meeting of EU finance ministers from Friday to Saturday, who will continue this work," Le Maire told French broadcaster BFM TV, as quoted by Sputnik.
Tensions escalated to unprecedented levels when Russian President Vladimir Putin signed a decree recognizing the independence of breakaway regions Donetsk and Luhansk in Ukraine on Monday.
Later in the day, the United Nations Security Council (UNSC) met following requests for an urgent meeting by the United States and allies.
Condemning Russia's move to recognize regions of Donetsk and Luhansk, the Ukrainian Ambassador to the United Nations demanded Moscow to return to the table for negotiations as well as immediate and complete verifiable withdrawal of occupation troops.
( With inputs from ANI )
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