Kremlin says the decision of the Group of Seven to extend sanctions against Russia will not have a positive impact on the global economy and affairs.

The Kremlin made the comment on Friday after the G7 said in a statement they had decided to extend sanctions against Russia. The group also said they may even adopt "new restrictive measures" after the sanctions expire at the end of July.

Russian Deputy Foreign Minister Sergei Ryabkov slammed the statement as "absurd", as it related the extension decision to Russia's fulfilment of the Minsk agreement on the Ukraine crisis. The West has imposed several rounds of anti-Russia sanctions since 2014. Moscow has banned imports of some foodstuffs from countries involved in response.