‘Everything is on the table,’ EU chief says of Russian energy sanctions as Ukraine tensions escalate

EU Commission’s President Ursula von der Leyen holds a press conference ahead the G20 and the COP26 (Glasgow Conference) in the Berlaymont, the EU Commission headquarter on October 28, 2021 in Brussels, Belgium.

European Commission President Ursula von der Leyen told CNBC that energy sanctions against Russia are still an option.

Von der Leyen said Saturday that everything is on the table when it comes to imposing sanctions on Russian gas giant Gazprom.

Europe imports around 40% of its gas supply from Gazprom, the EU chief told CNBC's Hadley Gamble at the Munich Security Conference.

She said she reached out to alternative suppliers, such as the United States.

We had the highest amount of energy deliveries from other places in January, and we know that if there is a decelerating of Russian gas, we will be able to make it through the winter.

The Prime Minister of Italy argued that energy imports should not be included in any sanctions against Russia. Italy is the largest importer of Russian gas in the European Union.

Two-thirds of Russia's energy exports go to Europe and this accounts for a significant amount of Russia's budget. She argued that it was not a smart move for Russia to decouple Europe from its gas supply.

Von der Leyen said that she had reassured him that Europe would source gas from elsewhere and that there was a network of pipes that would bring gas to Italy.

Von der Leyen said that they all want that diplomacy will have victory, but they prepare for the worst.

President Joe Biden said on Friday that the U.S. believes that Putin will launch an attack on Ukraine in the coming days.