OTTAWA—Foreign Affairs Minister Melanie Joly says Canada will join allies in imposing severe sanctions on Russian officials if the country takes further military action to compromise Ukrainian sovereignty. Russia has positioned about 100,000 troops across Ukraine’s borders along with tanks and other heavy artillery, stoking fears across Europe of an invasion, but Russia has denied it intends to do that. “The recently launched diplomatic process offers Russia two options: they can choose meaningful dialogue, or severe consequences,” Joly said in Brussels on Thursday where she was meeting with her European Union counterpart Josep Borrell. “We of course, appreciate the EU’s collaboration on many deterrence measures, including economic ones. Canada will be ready to take additional measures, particularly with respect to the financial sector.” On Wednesday, U.S. President Joe Biden said he expects Russian President Vladimir Putin to invade Ukraine but that he will pay a “dear price” for that. Joly …