Sanctions against Russia may backfire on EU - President of the European Parliament Martin Schulz

European economic sanctions against Russia may backfire on the EU, said the President of the European Parliament Martin Schulz on a press-conference following the European Council

Summit in Brussels

.

© REUTERS/ Stephane Mahe

President of the European Parliament Martin Schulz said sanctions against Russia may backfire on EU

According to Schulz, economic sanctions against Russia may influence Moscow's stance on the Ukrainian conflict, but they will not go without negative consequences for the European Union and its member countries.

On Saturday, the European Council gathered in Brussels, to appoint senior positions and discuss further economic

sanctions against Russia

over its alleged participation in the Ukrainian conflict.

Relations between Russia and the West have deteriorated following the situation in Ukraine. The West has repeatedly accused Russia of building up forces on its border with eastern Ukraine and supplying independence supporters with weapons, a claim Moscow has rejected.

The European Union and the United States have imposed several rounds of economic sanctions against Moscow, to which Russia has responded by banning food imports from the European Union, the United States, Canada, Australia and Norway.

Moscow has repeatedly referred to the sanctions as counterproductive, noting that Russia does not participate in the Ukrainian conflict.