(QHA) -

Russian President Vladimir Putin has warned that new biting sanctions against his country over its actions in Ukraine will boomerang and hit back at US national interests.

Speaking to the press following the BRICS summit in Brazil, Vladimir Putin was asked to comment on the new package of sanctions against Russia announced just minutes earlier by the US President.

"Without any doubt in this case [sanctions] are driving Russian-US relations towards a dead end, [and] are inflicting very serious damage on them,"- the state news agency ITAR TASS quoted Putin as saying.

"And I am convinced that this will harm the national long-term interests of the American state, the American people," - Putin told reporters on Thursday.

The US and European Union dramatically strengthened sanctions on Moscow over Ukraine on Wednesday, with Washington for the first time directly targeting Russia's banking, military and energy sectors.