According to a report, the president of the european commission has warned of extensive sanctions if Russia invade Ukraine. Reportedly, so far the package is concerning the economic sector. According to the report, it would limit russian access to eu financial markets and to crucial goods and technology.
Reportedly, the eu president said, Russia has a very one dimensional economy, mainly focusing on exporting fossil based fuels. According to the report, in recent days eu officials have been in close contact with their counterparts in Qatar, Azebaijan and Turkey discussing oil purchases. Reportedly, in 2014 there was only one liquefied natural gas terminal in Europe, now there are over twenty.
Last week the russian ambassador to the eu sought to dispel fears of a russian invasion of the Ukraine.