Foreign Affairs Minister Simon Coveney has described the Russian-Ukraine crisis as “enormously serious” as he called for a de-escalation of tensions.
He said the tension between Russia and Ukraine and the threat of invasion of Ukraine is something that the EU, the US and UK are all taken incredibly seriously.
He said the threat of a land war in Europe was something not seen for many decades.
“It could result in an enormous loss of life, and of course, extraordinary disruption right across the continent of Europe," he said.
"And that is why Ireland has consistently been talking about the need to defuse tension to focus on diplomacy and political dialogue, as opposed to military buildup, and we will continue to be that voice."
Mr Coveney also said the EU is absolutely unified in terms of the deterrent that it needs to put in place to ensure that Russia thinks very deeply before they would invade Ukraine.
“Because should they do that, I think the response from a sanctions perspective coming from the European Union would be very, very comprehensive going way beyond anything we've done in recent times,” he said.
He accepted that if Russia reciprocated with its own sanctions, it could have serious implications for energy prices for citizens.
“That's true. And there's no solution here without cost for everybody. But we do have to prepare for that eventuality, because many experts say that it may happen.
He said following a meeting of EU foreign ministers in Brussels on Monday, that he hopes diplomacy will prevail here.
However, he warned that given the scale of the Russian buildup on the Ukrainian border, many people are extremely worried about the situation.
At Cabinet, Mr Coveney briefed ministers on a notification that Ireland has received from Russia that they intend to undertake military exercises about 240 kilometres off the Irish southwest coast.
The location is in international waters but it is also part of the exclusive economic zone (EEZ) of Ireland.
He made it clear to the Russian ambassador in Ireland that this activity is not welcome.
“This isn’t a time to increase military activity and tension in the context of what’s happening in Ukraine at the moment,” he told his colleagues.
Russia, under international law of the sea, can undertake military exercises in international water, but the fact that they’re choosing to do it on the western borders of the EU, off the Irish coast, is not welcome and not wanted, the Cabinet was told.
Mr Coveney said that Europe is sending a clear message and asking Russia to defuse tension regarding their activities on the borders of Ukraine, and for Russia to give reassurance to the rest of the world in terms of their intentions.
He also signalled a strong message of unity from the EU that should Russia decide to invade Ukraine militarily, there would be very severe consequences in terms of sanctions and restrictions that would follow very quickly.
Any discussions around European security must include the EU, the Cabinet agreed.
Ministers were told Ireland and the EU are monitoring the situation very closely and co-ordinating efforts across member States and the UN.
Senior officials in the Department of Foreign Affairs have met with representatives of the Ukrainian Government to discuss the situation. The Ukrainian Government has shared its assessment and how it is managing the situation.
The Government's position regarding Ukraine is that any discussions on EU security must include the EU, ministers agreed.
On foot of the tensions, Irish citizens are now being advised to avoid non-essential travel to Ukraine, it was announced.
Taoiseach Micheál Martin said on Tuesday the advice comes in light of ongoing tensions at the Eastern European country's border with Russia.