"I would not like to comment on talks about future sanctions, but I can say one thing: If some ban on banks’ operations or on their use of one or another currency follows, it would be possible to clearly call it a declaration of economic war," said Russian Prime Minister Medvedev.

According to a report in Sputnik, during a visit to the region of Kamchatka, Medvedev spoke about US sanctions.

"All I can say is: if they ban banking operations or the use of any currency we will call it a declaration of economic war. In addition, we will have to respond to it – economically, politically or in any other way, if need be. Our American friends should make no mistake about it," he said.

Medvedev said that Russia has a long history of dealing with economic constraints and that never gave up against pressures.

"Our country has been subjected to constant sanctions over the last hundred years, and the United States and its allies are blocking global competition, nothing has changed," Medvedev said.

Medvedev pointed out that the US also applied tariffs to China, saying, "The Chinese people do not like it absolutely, nobody likes it, and our aim is to counter all these measures."

Earlier, the US Department of State announced new sanctions on Russia over the accusations of involvement in the poisoning of former Russian intelligence officer Sergei Skripal and his daughter Yulia in the United Kingdom in March.

ILKHA