GARMISCH-PARTENKIRCHEN(GERMANY), June 8. /TASS/. The Group of 7 countries are ready to toughen sanctions on Russia, if necessary, German Chancellor Angela Merkel told a news conference on Monday following G7 summit in Elmau.

"We are prepared to toughen the sanctions, if the situation makes it necessary," she said.

G7 share a common position on the situation in Ukraine, Merkel said.

The crisis in Ukraine can be resolved only by political means on the basis of the Minsk agreements, she said.