West threatens Russia with more sanctions

West threatens Russia with more sanctions

BRUSSELS -- Leaders of the seven most developed countries have warned Russia they are ready for new sanctions if there is no progress in resolving the Ukrainian crisis.

We are ready to strengthen the targeted sanctions and for additional restrictive measures against Russia if the situation requires it, said in a joint statement of the heads of state and government of G7, consisting of the United States, Germany, Japan, France, Britain, Canada and Italy .

They gathered last night at an informal meeting, which will continue today, and Russia and Ukraine are the main topics.

German Chancellor Angela Merkel also threatened Moscow with tightening of sanctions in a separate news conference.

We can not afford further destabilization of Ukraine, Merkel told reporters in Brussels, adding that the West is very carefully checking whether the situation in southeastern Ukraine is calming.

If there is no progress, we have to decide on sanctions, even very severe sanctions from the third stage, she warned.

According to the previous agreement of Western leaders, the third phase of sanctions could include Russia's state-owned enterprises and breaking the existing trade arrangements.