President Joe Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war in Ukraine.

Experts say new US sanctions on Russian oil exports could have a serious impact on Moscow's revenues and could see India and China seek alternative supplies.

Biden administration officials say the sanctions are being imposed now because they are not likely to add to inflation

The U.S. Treasury announced on Friday sweeping new sanctions against the Russian energy sector, including oil majors Gazprom Neft and Surgutneftegaz, to try to curtail Moscow's ability to fund its war with Ukraine.

The Kremlin said on Monday that the latest round of U.S. sanctions on the Russian energy sector risked destabilising global markets, and Moscow would do everything possible to minimise their impact. "It is clear that the United States will continue to try to undermine the positions of our companies in non-competitive ways,