(QHA) -

There is no reason to cancel the economic sanctions imposed by the West against Russia, German Chancellor Angela Merkel announced this on Thursday, speaking at the World Economic Forum in Davos, Switzerland.

"Economic sanctions are inevitable, but they are not an end in itself. Sanctions can be lifted when the reason for their imposition disappears, but such a prerequisite is missing now," Merkel said.

German Chancellor once again stressed that situation in the east of Ukraine "cannot be settled by military means."

Merkel emphasized that the world was bound to respond to Russia's actions towards Ukraine, because Moscow "violated the basic principles of peaceful European order."

The leader of Germany assured that Berlin along with Paris continued working towards a diplomatic way out of the crisis in Ukraine.

Merkel once again confirmed the position that the Minsk agreements should have remained the basis for peace in eastern Ukraine.

QHA