Russia's Putin says US sanctions drive bilateral relations into a corner

Russia's President Vladimir Putin has lamented the latest round of U.S. sanctions against his country. He says they are stalemating bilateral relations and hurting not only Russian but also American businesses.

U.S. President Barack Obama on Wednesday announced broader sanctions against Russia, targeting two major energy firms, a pair of powerful financial institutions, eight arms firms and four individuals. The increased economic pressure is designed to end the insurgency in eastern Ukraine that is widely believed to be backed by the Kremlin.

Putin said in televised comments on Thursday they are hurting relations between the two countries as well as the interests of American companies. He added that Moscow is still keeping the door open for diplomacy.

Russia's biggest oil company Rosneft has a multi-billion-dollar deal with ExxonMobil.