The President of the European Council, Charles Michel, said the leaders of the EU have voted to extend economic sanctions on Russia.

Michel confirmed the EU leaders' meeting in Brussels called on Russia to begin implementing the Minsk agreements.

Massive consequences & severe cost will follow if Russia takes further military action against Ukraine.#EUCO leaders unanimously agreed to roll over economic sanctions against Russia.

We call on Russia to keep its part of the bargain and proceed with Minsk implementation. pic.twitter.com/uxeMXxM11u

— Charles Michel (@eucopresident) December 17, 2021

Previously last week, the European Parliament issued a statement calling on member states to prepare to impose sanctions on Russia, including reducing its dependence on energy imports from Russia and ending the Nord Stream 2 Pipeline. 

Russia's foreign ministry had previously stated that NATO should formally withdraw a 2008 proclamation that allowed Georgia and Ukraine, two former Soviet republics, to join the alliance.

Yesterday, NATO rejected Moscow's proposition, stating that NATO refuses to compromise Ukraine's rights or NATO's rights to protect and defend all its allies.

On Wednesday, US Assistant Secretary of State Karen Donfried held her first meeting with Deputy Foreign Minister Sergei Ryabkov in Moscow.

The Russian ministry said in a statement that "a thorough discussion of security guarantees took place in light of the ongoing attempts by the United States and NATO to change the military and political situation in Europe in their favor." 

The EU's warnings came amid western claims of a troop buildup on the border with Ukraine and preparing for a military invasion - accusations Russia has long been denying.

The West had previously threatened Russia with "heavy sanctions," but President Vladimir Putin said earlier this month Moscow pursues a peaceful foreign policy; however, it has the right to defend its security.