President Vladimir Putin says Russia will never bow to pressure from the United States or any other foreign power, and cautioned that it would deliver an "overwhelming" response to any military strikes deep inside Russia.

US President Donald Trump on Wednesday targeted Russia's two biggest oil companies with sanctions in a sharp policy shift on the Kremlin's war in Ukraine, prompting global oil prices to rise by nearly five per cent on Thursday and India to consider cutting Russian imports.

Putin told reporters that foreign sanctions were an "unfriendly" act and "will have certain consequences but they will not significantly affect our economic well-being".

Russia's energy sector feels confident, he said.

"This is, of course, an attempt to put pressure on Russia," Putin said.

"But no

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