Russian foreign minister Sergei Lavrov has dismissed the threat of western sanctions in response to Moscow's recognition of two breakaway Ukrainian regions, saying “we’re used to it”.
Western nations and Japan have hit Russia with sanctions - mainly targeting banks and elites - after Mr Putin ordered troops into rebel-held areas of eastern Ukraine on a refuted claim of “peacekeeping” following shelling along a long-simmering frontline between pro-Moscow rebels and Ukrainian forces.
The Russian president's order was seen in some Western capitals as the beginning of an invasion and followed months of speculation over Moscow's build-up of troops at the Ukraine border.
The US, EU, UK announced new sanctions targeting Russian banks and wealthy individuals, saying they would go further if an invasion proceeds. Canada, Australia and Japan announced similar sanctions and South Korea said it was in talks with the US over potential measures.
Mr Lavrov said on Tuesday that there was little surprise in Moscow at the response and that the West would impose sanctions regardless of events.
“Our European, American, British colleagues will not stop and will not calm down until they have exhausted all their possibilities for the so-called ‘punishment of Russia',” he said.
“They are already threatening us with all manner of sanctions or, as they say now, 'the mother of all sanctions'.
“Well, we're used to it. We know that sanctions will be imposed anyway, in any case. With or without reason.”
Russia was hit with a tranche of sanctions after it annexed Ukraine's Crimea in 2014 but the west says the latest measures will have a stronger impact.
Joe Biden announced on Tuesday that the US would target Russian elites and two state-owned banks, excluding them from the US banking system, banning them from trading with Americans, and freezing their US assets. They also seek to deny the Russian government access to Western financing.
The EU agreed to blacklist banks involved in financing separatists in eastern Ukraine and to cut the Russian government out of its debt markets.
The UK package targeted five banks and three elite individuals but fell short of expectations in London.
Critics noted that the government refrained from hitting Russia’s three biggest banks and the individuals had already been under US sanctions for years.
Many had hoped for stronger measures against Russian dirty money in London.
British PM Boris Johnson stressed that the UK had prepared tougher sanctions. He said they would be “deployed alongside the United States and the European Union if the situation escalates still further”.
Among the more notable measures announced on Tuesday was Germany's decision to halt verification of the Nord Stream 2 gas pipeline with Russia, a project long seen as a moderating tie on Berlin's relationship with Moscow.
The Kremlin said it hoped the verification delay was temporary and Mr Putin said Russia "aims to continue uninterrupted supplies" of energy to the world.
