Russia is ready to end its ties with the European Union if it is hit by sanctions

EU High Representative for Foreign Affairs and Security Policy Josep Borrell (L) and Russian Foreign Minister Sergey Lavrov (R) hold a joint press conference following their meeting in Moscow, Russia, on 5 February 2021. (Photo by the Ministry Foreign Affairs / Document / Anadolu Agency through Getty Images)

Russian Ministry of Foreign Affairs Anadolu Agency Anadolu Agency Getty Images

LONDON – Russia says it is ready to cut ties with the European Union, according to an excerpt from an interview published on the Russian Foreign Ministry’s website on Friday morning. The comments mark another escalation of tensions between the two sides.

When asked if Russia is heading for a break with the European Union, Russian Foreign Minister Sergei Lavrov said: “We start from the fact that we are prepared (for this). If we see sanctions imposed again. in some sectors that pose risks to our economy, including in the most sensitive areas, “according to a translation of Reuters comments.

“We do not want to isolate ourselves from global life, but we must be prepared for that. If you want peace, then prepare for war,” Lavrov added.

Neither the Russian Foreign Ministry nor the European Commission, The EU’s executive arm was immediately available for comment when contacted by CNBC on Friday.

Russia-EU relations hit a new low last week, when EU foreign policy chief Josep Borrell visited his counterpart in Moscow. It has since been described as a “humiliating” journey by analysts.

Borrell is gone to express the EU’s opposition to the arrest of Alexei Navalny, a staunch critic of Russian President Vladimir Putin. However, he accused Russia of organizing an “aggressive press conference” during his trip.

In remarks to the press, Lavrov said that “the EU is not a reliable partner, at least at the current stage”. Borrell failed to address this comment, which triggered anger among some European parliamentarians.

In addition, Borrell learned via Twitter during a meeting with Lavrov that Russia had expelled three EU diplomats for participating in demonstrations in support of Navalny.

“An aggressively organized press conference and the expulsion of three EU diplomats during my visit indicate that the Russian authorities did not want to take this opportunity to engage in a more constructive dialogue with the EU,” Borrell said in a statement. blog post two days after the trip.

As a result, he suggested that the EU should impose new sanctions on Russia – a decision that must be approved by European governments.

It would not be the first time that Russian companies and individuals are sanctioned by the EU. Their relationship has deteriorated significantly since then Russia’s annexation of Crimea in 2014, but ultimately their ties are extremely important to both given their common economic, energy and strategic interests.

Analysts told CNBC that the latest differences between Moscow and the EU could put pressure on the pipeline built from Russia to Germany, Nord Stream 2.

The bill has been sharply criticized, including by the United States, which has imposed sanctions on companies working on the pipeline – a position on which new US President Joe Biden has shown no indication of change.

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