Despite US sanctions, Russia plans to proceed with oil and gas projects.

The Russian Foreign Ministry on Saturday condemned the new US sanctions on Moscow's energy sector as an attempt to harm Russia's economy and potentially destabilize global markets, and stated that the country would continue with its large oil and gas projects.

Russia will respond to Washington's "hostile" actions, as stated in a ministry statement, while developing its foreign policy strategy.

The measures were an attempt to harm the Russian economy, despite the potential risk of destabilizing global markets as President Biden's term neared its end.

"Despite the turmoil in the White House and the efforts of the anti-Russian lobby in the West to draw the world's energy sector into the conflict between the US and Russia, our country has consistently been a vital and dependable participant in the global energy market."

The broadest U.S. sanctions package targeting Russia's oil and gas revenues was part of measures to give Kyiv and the incoming administration of Donald Trump leverage to end the war in Ukraine.

The US Treasury imposed sanctions on Gazprom Neft, Surgutneftegas, and 183 vessels that transport Russian oil, many of which are part of the shadow fleet of ageing tankers operated by non-Western companies.

"The less revenue Russia earns from oil, the sooner peace will be restored," said Ukrainian President Volodymyr Zelenskiy.