US sanctions have been imposed against Russia's gold and defence industries.

In accordance with agreements made this week by the Group of Seven leaders to further censure Russia for its invasion of Ukraine, the United States on Tuesday imposed penalties on more than 100 targets and prohibited new imports of Russian gold.

The US Treasury Department reported that in an effort to restrict Russia's capacity to create and use weapons and technology, sanctions had been placed on 29 individuals and 70 entities, many of which were considered to be essential to Russia's defence industrial base.

Targeting Russia's defence sector will weaken (Russian President Vladimir) Putin's capabilities and complicate his campaign against Ukraine, which is already beset by low morale, disrupted supply lines, and logistical setbacks, according to a statement by Treasury Secretary Janet Yellen.

According to the Treasury, sanctions against United Aircraft Corporation (UAC) were put in place to "weaken Russia's capacity to continue its aerial attack on Ukraine."

The Russian central bank, which has had difficulties accessing some of its assets kept overseas due to Western sanctions, relies heavily on its holdings of gold.