Putin says sanctions will backfire

Russian President Vladimir Putin has denounced the latest US sanctions against his country, saying they will damage relations and hurt businesses in both countries. 

Mr Putin said that bilateral relations are reaching a "dead end". 

He was speaking after the US and EU bolstered sanctions against his country over its support for separatists in Ukraine. 

The sanctions do not target the whole energy sector, Rosneft a personal project of President Putin which is run by one of his closest allies, Igor Sechin.

BBC