U.S. Deputy Secretary of State Antony Blinken has said that the U.S. and Europe will increase sanctions against Russia, if the aggression in Ukraine's east and violations of Minsk arrangements continue.

As regards the sanctions and additional pressure, the U.S. and its European partners clearly say if Russia and separatists fail to fulfill the obligations under the Minsk agreements, if there is new aggression in eastern Ukraine, there will be more sanctions and pressure on Russia, he said at a briefing in Kyiv on Friday.

The purpose of these sanctions is not to punish and humiliate Russia, but they are a response to Russia's actions in Ukraine, Blinken said adding that through sanctions they were trying to convince Moscow to change its approach and its policies.

According to the U.S. deputy state secretary, the sanctions are already affecting Russia's economy, there is a slump in oil prices, the capital is fleeing of Russia, foreign investment have fallen to zero, the ruble is depreciating, and Russia is spending billions of dollars to protect it.