It would be "utterly despicable" to allow Russia to gain financially by selling oil and gas to Europe, Tánaiste Simon Harris has said.
The European Union has been phasing out its use of Russian gas and oil following the country's 2022 invasion of Ukraine.
However, Russian President Vladimir Putin has reportedly said his country is willing to work with European customers amid an energy crisis caused by the conflict in the Middle East.
Speaking at a meeting of EU finance ministers in Brussels, Mr Harris said it was important the bloc "remains steadfast" in its view that economic sanctions on Russia are an important tool in trying to end the war on the continent of Europe.
He said: "The idea that Putin and Putin's Russia would in any way benefit financially from a moment of conflict and pain and trauma in the Gulf region would be utterly despicable.
"It shows the importance of de-escalating the conflict in the Gulf region, and it also shows the importance of not losing focus on Ukraine and showing solidarity to our friends, to our European friends in Ukraine."
The Tánaiste said that EU member states should be "ready to act" if the Gulf oil crisis does not "end quickly".
"It's really important we [EU member states] come together to consider and analyse the economic impact of the conflict in the Gulf," he said.
He also said that member states should be "ready to act" if the Gulf oil crisis does not "end quickly".
Mr Harris said a fall in oil prices today showed the "volatility" of the situation while the Government keeps its response "under review".
Asked what action he wants the EU to take on energy costs, he said Europe's energy market has become more diversified than it was in 2022 but added: "I think we still find ourselves far too reliant on other parts of the world when it comes to our energy and certainly this needs to be a sharp reminder and wake-up call about the urgency of moving towards energy independence at a European level."
Additional reporting Fiachra Ó Cionnaith
