Russia to hit back at Western sanctions: Minister

The top diplomat cited, particularly, concerns of Visa and MasterCard payment systems over possible loss of the Russian market due to sanctions imposed by the US.

"All this could be substituted," he said, adding there were many experts in Russia and other countries who knew how that works.

On May 9, Russian foreign ministry spokesman Alexander Lukashevich vowed to retaliate against new sanctions from the West, referring to Moscow's decision to ban entry for a undisclosed list of Western citizens.

The West accuses Moscow of being behind the chaos in eastern Ukraine where two regions declared independence Sunday amid clashes with government troops. Russia has denied the accusation.