British Prime Minister David Cameron condemned the illegal intervention of Russia in the Ukrainian crisis at the Lord Mayor's banquet, held on Monday.

In Cameron's words the UK is not seeking a new Cold War with Russia, but at the same time the UK should stand up to its values and commitments, not allowing Russia to continue violating international law.

The Prime Minister ruled out a military solution to the Ukrainian crisis outright. He assessed economic sanctions as being more effective and as having a direct impact on the Russian economy. Thus, the UK will not restrain itself from further political and economic confrontation with Moscow.

Cameron justified the stance taken by the UK and the West in the conflict, and warned that if Russia is to continue along the same path, the UK will keep up the pressure. According to him, such development will be harmful for Russia, as it will result in its worsened relationship with the rest of the world.

In reference to Gorbachev's recent words that the world is on the eve of a new Cold War, he stated that the situation was not inevitable, nor was it sought by the UK.

Cameron's speech comes ahead of the G-20 meeting that is scheduled to take place in Brisbane this weekend. It is anticipated that Cameron and President Putin will hold talks during the meeting.

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