Russian business feels sanctions' impact

St Petersburg - President Vladimir Putin said on Friday that Western sanctions imposed on Russia over Ukraine are having a real impact on domestic businesses.

He also told the St Petersburg International Economic Forum that access to funding for many Russian companies has became limited due to the punitive measures.

He added that the United States could be pressing sanctions against Russia to win competitive advantage over Europe.

"Maybe our American friends - they are sophisticated guys - want to get a competitive advantage in their trade and economic relations over Europe," Putin said.