UK doesn't want new Cold War with Russia but can't ignore Ukraine - Cameron

Britain's Prime Minister David Cameron points as he speaks at the Confederation of British Industry (CBI) annual conference in London November 10, 2014. REUTERS/Suzanne Plunkett

LONDON (Reuters) - Prime Minister David Cameron said on Monday Britain didn't want a new Cold War with Russia, but signalled he was ready to back tougher sanctions against Moscow if it continued to destabilise Ukraine.

Addressing an audience in London at the Lord Mayor's banquet, an event traditionally dominated by the foreign policy crisis of the day, Cameron said Russia's actions posed a grave threat to the rest of Europe but that it wasn't too late to avoid a new Cold War.