“If they introduce something like a ban on banking operations or the use of any currency, we will treat it as a declaration of economic war. And we’ll have to respond to it accordingly – economically, politically, or in any other way, if required,” Medvedev said during a trip to the Kamchatka region.

"Our American friends should make no mistake about it,” he emphasized.

On Wednesday, the US State Department announced a new round of sanctions targeting Russian exports of dual-purpose electronics and other national security-controlled equipment, which will come into effect on August 22.

The stated reasoning behind latest punitive actions are accusations levelled against Russia over the Sergei and Yulia Skripal poisoning back in March, which the UK and its allies pinned on Moscow without due investigation. Washington subsequently accused Moscow of breaking the 1991 international law against chemical and biological warfare.

The Kremlin has repeatedly denied the allegations, while the UK authorities have provided no proof of Russia’s involvement in the case. Furthermore, Moscow eliminated all stockpiles of its chemical weapons under international obligations, unlike the US, which has still to honor its commitment.

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