India, Oct. 23 -- Russian President Vladimir Putin on Thursday downplayed the impact of fresh US sanctions targeting the country's two largest oil companies, Rosneft and Lukoil, saying they would not significantly affect Russia's economic stability.

Speaking to reporters, Putin acknowledged the sanctions as "serious," calling them an "unfriendly act" that would have "certain consequences," but insisted that Russia's "economic well-being" would remain intact.

They mark a shift in Trump's previously cautious approach toward Moscow, after months of holding off on punitive measures.

Putin said the move "does not strengthen Russia-US relations, which have only just begun to recover," but expressed willingness to continue engagement with Was...