Russia may consider it an economic war if the US imposes economic sanctions, Russia's Prime Minister Dmitry Medvedev said on Friday, the TASS News Agency reported.

"I would not like to comment on talks about future sanctions, but I can say one thing: if some ban on banks' operations or on the use of one or another currency follows, it would be possible to clearly call it a declaration of economic war," Medvedev said.

"And it would be necessary, it would be needed to react to this war economically, politically, or, if needed, by other means. And our American friends need to understand this," he added.