Germany and France are ready to agree more extensive sanctions against Russia if a planned presidential election in Ukraine on May 25 is foiled, Chancellor Angela Merkel and President Francois Hollande said on Saturday.

In a joint statement, they agreed to support tougher sanctions against Russia ¡ª affecting areas such as energy, defense, financial services and engineering ¡ª than European Union leaders outlined at a meeting in Brussels on March 6.

¡°We would be ready to take further sanctions against Russia if the May 25 elections in Ukraine fail,¡± Merkel said at a joint news conference with Hollande in the Baltic port of Stralsund, although sanctions would not be ¡°an end in themselves.¡±