BRUSSELS (Reuters) - The European Union believes there is a "limited risk" of war in Korea, in spite of a ratcheting up of tensions on the peninsula, an EU official said on Tuesday.

"We recognize the situation as being tense and potentially volatile. But our assessment is that there is a "limited risk"...of an armed conflict," the official briefing reporters on condition of anonymity said.

"We haven't seen conspicuous preparations in the North for an attack, and the situation on the ground in Pyongyang looks calm."

(Reporting By Adrian Croft, Editing By Ethan Bilby)