Why Russia may not face more sanctions
Russia may not face tougher economic sanctions even though it has banned scores of European Union officials, former U.S. diplomat Bob Hormats said Tuesday.
"I think Europeans are not agreed amongst themselves on whether there should be tougher sanctions. I don't think they will be diluted, nor do I think they should be diluted. Whether you can up the sanctions remains to be seen," the former under secretary of state for economic growth said on CNBC's " Squawk Box ."
Hormats added he believes that the U.S. may not be able to spearhead stricter sanctions on Moscow because it might not have the support of certain allies, including Italy and Greece, two countries that have close trade relations with Russia.
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"[Vladimir Putin is] not just betting on Russian strength ... he's also betting in Western weakness. He's betting that Europe won't cohere to tougher sanctions. He's betting that the U.S. and Europe won't do anything tough if he decides to make more incursions into Ukraine," said Hormats, who is vice chairman of Kissinger Associates.
On Saturday, the EU said 89 officials had been placed on Moscow's "stop list," denying them entrance into the country.
The EU is scheduled to discuss whether or not to extend its economic sanctions against Russia on June 25 and June 26.
-CNBC's Holly Ellyatt contributed to this report.
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