US President Donald Trump announced new sanctions on Russia’s two largest oil companies on Wednesday, complaining that his peace talks with Russia’s Vladimir Putin were not going “anywhere”.

Trump held off introducing new restrictions against Russia for months, but his patience snapped after plans for a fresh summit with Putin in Budapest collapsed.

“We view this step as being entirely counterproductive, including in terms of signalling the need to achieve meaningful negotiated solutions to the Ukrainian conflict,” Russian foreign ministry spokeswoman Maria Zakharova told a weekly briefing.

“Our country has developed a strong immunity to Western restrictions and will continue to confidently develop its economic potential, including its energy potential,” she added.