BRUSSELS, Feb. 26 – The European Union will not rule out increasing sanctions on Russia if it continues to destabilize eastern Ukraine, European Council President Donald Tusk said during a speech to the European Parliament on Wednesday.

"The European Union stands united on this question and will stay its course. Additional sanctions remain on the table. We should be ready for any development, good or bad," Tusk told MEP's, while speaking on the results of an informal EU summit in February on developments in Ukraine.