The European Union has banned leading rating agencies from assessing Russia's sovereign debt and companies in the country as part of its latest sanctions package.

"These sanctions will further contribute to ramping up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine," the Commission said in a statement.

"They have been coordinated with international partners, notably the United States," it added.

The world's top three credit rating agencies, S&P Global, Moody's and Fitch, risk losing their EU licenses if they violate the ban.

Other measures in the EU package included a ban on imports of Russian steel products currently under EU safeguard measures, which it estimated would amount to about 3.3 billion euros in lost export revenue for Russia.

There was also a ban on exports of luxury goods, such as cars and jewelry, and an increase in the number of sanctioned wealthy people linked to Russian President Vladimir Putin.