With the Russian economy seemingly hurtling towards the abyss, the EU is on the fence about whether to ease its sanctions against the massive nation.

But the foreign minister, Martin Lidegaard, doesn't see any reason to drop the sanctions, arguing that the ongoing conflict in Ukraine needs to be resolved first.

”I don't think that it's the right time to ease sanctions,” Lidegaard said according to Jyllands-Posten newspaper. ”I don't see that happening until we re-establish a border between Ukraine and Russia.”

Lidegaard underlined that military materiel was still being transported across the Russian border into Ukraine.

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EU challenges ahead
Lidegaard is taking part in a EU meeting regarding the issue. The EU's high representative for foreign affairs and security policy, Federica Mogherini, called for the EU to look into possibility of easing the sanctions in order to improve relations with Russia.

The EU member states began sanctions against Russia and Russian separatists in eastern Ukraine in March last year, which eventually grew in scope to encompass entire sectors of the Russian economy.

Every individual sanction expires after a year and will not be renewed unless all 28 nations agree to an extension.