Russia would pay 'high price' for Ukraine aggression - NATO

"We all made it very clear that there will be a high price to pay and, and sanctions is one of the options," Stoltenberg said in an interview at the Reuters Next conference on Wednesday (December 1).

Russia says it has no intention of invading Ukraine.

President Vladimir Putin has said that Russia would be forced to act if U.S.-led NATO placed missiles in Ukraine that could strike Moscow within minutes.

Ukraine, a former Soviet republic that now aspires to join the European Union and NATO, has become the main flashpoint between Russia and the West as relations have soured to their worst level in the three decades since the Cold War ended.