Gazprom has raised concerns that sanctions being doled out by Western governments against Russian people and institutions over instability in Ukraine could have an impact on its business.

The gas giant also said the continuing tensions between Russia and the West could hamper exports to Europe, while it also unveiled a drop in profit last year.

The US, European Union and others have hit several Russian companies and individuals with sanctions over continued tensions in Ukraine following the annexation by Russia of Crimea.