The Tanaiste has said Russian President Vladimir Putin is "putting himself into a space" where he could be viewed as "the Hitler of the 21st century".
Leo Varadkar added that it has been known for "a long time" that Putin is a "bad man" but said no one thought he would end up being mentioned in the same breath as the Nazi ruler.
He was speaking about the potential impact Russia's invasion will have on Ireland as the EU prepares to announce a third package of sanctions against the country.
It is expected that the Foreign Ministers of the 27 Member States will agree to freezing the assets of Putin and Russia's own Foreign Minister, Sergei Lavrov, on Friday evening.
The Minister for Foreign Affairs Simon Coveney said he expects the next round of measures to "go further" than those already announced on Thursday night.
Meanwhile, Taoiseach Micheal Martin said from Brussels that the Russian invasion will also impact the economies of European nations.
He said: "That is a consequence of Putin's actions, not what we are doing. We have to stand up for our values and principles and that means sanctions that will impact not just on Russian but on EU countries as well."
When asked what kind of impact the Ukrainian conflict could have on Ireland, Tanaiste Leo Varadkar said now was not the time to be concerned about the potential negative effect on our economy.
He added that the crisis should be seen in the context of "Europe in the 1930s".
"I don't think we're in that space where we can be concerned about the economic impact on Ireland when a democratic country in the European Union is being invaded and attempts are being made to overthrow a democratic government there," he told RTE's Drivetime programme.
"I don't know the last time this happened in Europe but the last time I can think of this happening in Europe is in the 1930s and I think we should see this conflict in that context.
"We knew that Putin was a bad man, we've known that for a long time now, but we didn't think he would be the Hitler of the 21st century and I think he is putting himself into that space
Mr Varadkar added that the expulsion of the Russian Ambassador to Ireland "can't be ruled out".
"I think it is important to note that even if the ambassador is expelled, all that happens is that the charges d'affaire takes over," he said.
"It may have symbolic benefit but it doesn't actually change very much.
"I think we have to question on what basis the 20 Russians who are in the embassy in Rathgar have to stay in the country, it's a very large embassy, we have four people in Moscow, they have 20 here.
"It's very difficult to see why we need that level of Russian personnel in our country and I think we have to review what will be the appropriate action, whether it's to reduce the numbers who are allowed in Ireland down to a trickle or whether its the symbolism of removing an ambassador.
"I think actually getting that number 20 down to a much smaller number might be more effective."
