Nizhny Novgorod, September 12 (RHC-RIA Novosti) -- Latin America will never impose sanctions against Russia, since the two enjoy an excellent political dialogue, Cuban Ambassador to Russia, Emilio Losada Garcia said.

"I'm convinced that Latin America will never impose sanctions against Russia, because we have very close relations and good prospects for cooperation," the ambassador said at a round table held at the international business summit in Nizhny Novgorod.

Latin America and Russia have an excellent political dialogue, as evidenced by the July visits of Russian President Vladimir Putin to Brazil, Argentina, Nicaragua and Cuba, Garcia said.

The official said that it is important to use this dialogue for the development of economic ties.

"We have all the conditions for the relations between our countries to be of a strategic and long-term nature," the diplomat said.

On Friday, the European Union announced the introduction of a new round of sanctions against Russia, targeting the country's major defense and energy companies, as well as senior Russian officials.

Earlier on Thursday, the Kremlin confirmed that Moscow has prepared a package of retaliatory measures to respond to the new Western sanctions. The measures will include restrictions on the importation of cars and textiles.