BRUSSELS, June 27./ITAR-TASS/. Participants in the current EU summit do not intend to impose economic sanctions on Russia on Friday, a source in the delegation from a Western European country said with confidence to ITAR-TASS.

“Preliminary consultations show that today almost no leaders of EU states find it necessary to impose trade and economic sectoral sanctions on Russia,” he noted.

He said that the conflict in eastern Ukraine is developing. Volunteers and weapons are still arriving in the conflict zone across the Russian border. "At the same time we see the positive developments, including the revocation of the Russian parliament’s decision on the possibility of the use of force in Ukraine and the start of a dialog between Russia and Ukraine at the highest level," he said. 

The West European diplomat said that in this situation “the imposition of economic sanctions would be counterproductive and would probably prompt Russia to move towards self-isolation and provoke further escalation of the conflict.”

At the same time, the EU will continue to exert pressure on Moscow by diplomatic means to motivate it to take further steps towards de-escalation of the conflict, the West European diplomat said.

The source did not rule out, however, “some extension of the Russia blacklist, which prohibits some Russian officials to enter the EU and use the European banking system until November this year.

“Everything will depend on practical efforts, which Russia is taking or is not taking to bring the conflict to a halt,” the source said.

The EU is also ready to cooperate with Russia and to remove any misunderstanding on the association agreements, European Council President Herman Van Rompuy said separately during signing ceremonies of the association agreements with Ukraine, Moldova and Georgia.

These agreements cannot hurt Russia, they are focused on creating mutual future and prosperity, Van Rompuy said.

Earlier, Chairman of the EU representation in Ukraine Jan Tombinski said that EU countries have no intention to introduce new economic sanctions against Russia. 

“Nobody wants that really. The goal of sanctions is not to introduce them, the goal is to make the very threat of them an impulse to correct policies,” he added.

In June, the European Commission prepared a list of trade and economic sectoral sanctions against Russia that will have the least impact on the European economy. These measures include restrictions on the supply of modern technology and equipment used for oil and gas extraction.