February 12, 2021: According to a fragment of an interview published on Russia’s foreign ministry website Friday morning, Russia has said it is ready to cut ties with the European Union.

When asked, Russia’s Foreign Affairs Minister Sergey Lavrov said, “We proceed from the fact that we are ready. If we again see sanctions imposed in some sectors that create risks for our economy, including in the most sensitive spheres,” according to Reuters.

“We don’t want to isolate ourselves from global life, but we have to be ready for that. If you want peace, then prepare for war,” Lavrov added.

The relationship between Russia and the EU hit a new low last week when the EU’s foreign policy chief, Josep Borrell, visited his Moscow counterpart. It has since been described as a “humiliating” trip by analysts.

“A staged press conference and the expulsion of three EU diplomats during my visit indicate that the Russian authorities did not want to seize this opportunity to have a more constructive dialogue with the EU,” Borrell said in a blog post two days after his trip.

As a result, he has suggested that the EU impose fresh sanctions on Russia, a decision that European governments need to approve.

It would not be the first time that the EU has sanctioned Russian companies and individuals.

Analysts have told CNBC that Moscow and the EU’s latest differences could put pressure on the gas pipeline being built from Russia to Germany, Nord Stream 2.

The project has been sharply criticized, including the United States, which has imposed sanctions on companies working on the pipeline. New Biden has shown no indication of changing.