"Sanctions are a flexible instrument that can be scaled up and down if there are improvements or if the situation deteriorates," Mogherini said.
She said that the settlement of the conflict in Ukraine depended on the implementation of the Minsk agreements, with the progress being made only in hostage exchange.
The EU foreign policy chief noted that the EU dialogue with Russia was possible not only on the matters pertaining to the Ukrainian crisis, but also other global issues, such as fight against terrorism, Iranian talks or climate change among other things.
"On that level the communication has never stopped," she said.
Russia-EU relations have worsened in light of the crisis in Ukraine, with the bloc accusing Moscow of meddling in Ukraine's internal affairs. The Russian government has denied the allegations. In September 2014, the warring sides in Ukraine reached a ceasefire agreement in Minsk, although the opposing parties have repeatedly accused each other of truce violations.
Amid these accusations, the EU member states, alongside the United States and some other Western nations, have imposed several rounds of sanctions on Russia targeting the country's finance, energy and banking sectors.
