The West cannot forever offer Moscow negotiations and an olive branch and will impose large-scale economic sanctions if the situation around Ukraine continues to escalate, European Council President Charles Michel said, TASS reported.

His remarks came at the Munich Security Conference on Sunday.

"The concentration of Russian forces around Ukraine continues, we see no signs of de-escalation," he said.

"The big question remains: does the Kremlin want dialogue?" Michel asked at the Munich Security Conference. "We cannot forever offer an olive branch while Russia conducts missile tests and continues to amass troops," he added.

According to him, the EU has made economic offers to Africa, which should be more attractive than initiatives by Russia and China.