The European Union should refrain from harsh sanctions against Russia if it does not escalate a crisis over Ukraine, the EU’s top economic official said.

Since Russia’s annexation of the Black Sea peninsula of Crimea, the European Union has imposed sanctions against the closest allies of President Vladimir Putin. Group of Seven governments have suspended top-level contacts with Russia.

If Russia does not escalate or widen the crisis, then we can avoid thoughening our sanctions

US President Barack Obama and German Chancellor Angela Merkel talked last Thursday about potential further sanctions for Russia over its actions in Ukraine, calling on Moscow to move its troops back from the border region.

Rehn, on leave from his post at the EU to run for the European Parliament, told a panel discussion in Helsinki: “If Russia does not escalate or widen the crisis, then we can avoid toughening our sanctions. This is surely what every sensible European and Russian hopes for.”

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