MOSCOW (Reuters) – Russia’s Foreign Ministry on Saturday criticized new U.S. sanctions against Moscow’s energy sector as an attempt to undermine Russia’s economy at the risk of disrupting global markets and said the country will continue with many oil and gas projects.

A statement from the ministry also said that Russia will respond to the “hostile” actions of Washington, announced on Friday, while drawing up its foreign policy strategy.

The statement said that the measures amounted to “an attempt to inflict at least some damage on the Russian economy, even at the cost of risking the collapse of world markets as the end of the president’s bad administration approaches. Joe Biden in power.”

“Despite the convulsions of the White House and the machinations of the Russophobic lobby in the West, trying to drag the world’s energy sector into the ‘hybrid war’ unleashed by the United States against Russia, our country has become and remains a key and reliable player in the global fuel market.”

The measures comprise the broadest package of US sanctions to date targeting Russian oil and gas revenues, part of measures to give Kyiv and the incoming administration of Donald Trump leverage to achieve an agreement to end the war in Ukraine.

The US Treasury imposed sanctions on Gazprom (MCX:) Neft and Surgutneftegas, which explores, produces and sells oil as well as 183 vessels that ship oil to Russia, most of which are in the so-called shadow fleet of aging tankers operated by non-Western companies.

Ukrainian President Volodymyr Zelenskiy said the measures would “deliver a significant blow” to Moscow. “The less income Russia gets from oil … the sooner peace will be restored,” he said.