Ukraine PM Urges Economic Sanctions to Contain Russia

Ukraine's interim premier Arseniy Yatsenyuk on Friday called for global economic pressure against Russia to halt its drive to forge "a new world order."

Speaking after the signature of a landmark EU-Ukraine partnership deal, Yatsenyuk said economic pressure was the only way to contain what he described as Moscow's unprecedented disregard for internationally agreed borders.

"What's happening in the world today?" he asked. "Has Russia decided to impose a new world order?"

"Military response is not acceptable -- to have a third world war.

"The best way to contain Russia is to impose real economic leverage on them."

European Union nations have slapped sanctions on 33 Russians and Ukrainians over Russia's annexation of Ukraine's Black Sea peninsula of Crimea.

But the EU is reluctant to move to economic sanctions against one of the bloc's largest economic partners and a key energy supplier which provides more than a quarter of Europe's gas.

The Ukraine crisis however is prompting moves to diminish the continent's energy dependency on Russia as quickly as possible and Yatsenyk said "it's needed to overhaul the energy policy of Ukraine."

Saying that Russia was punishing his country for tightening relations with the EU by doubling gas prices, he called on the EU to help his country diversify energy sources.

"We all need to pay the price, for peace, stability, security and values," he said.