"We declare once again that any sanctions against Russia would be groundless and counterproductive," the Russian foreign ministry said in a statement.
"Instead of scaring us with another set of sanctions, the European Union should focus on the joint search for a solution for Ukraine's internal crisis."
EU foreign ministers agreed on the additional sanctions yesterday to punish Russia for increasing tensions in Ukraine's east which have seen pro-Moscow militants clash with Kiev authorities.
Washington and Brussels have already slapped sanctions on Russian officials including some of President Vladimir Putin's closest allies but stopped short of targeting the broader economy.
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The Russian foreign ministry said repeated claims that Russia was involved in the confrontation in Ukraine's east were "absolutely unacceptable."
Moscow also accused Brussels of turning a blind eye to reports of attacks on presidential candidates set to run in May 25 elections in Ukraine, calling it "the height of cynicism."
Oleh Tsarev, a Ukrainian presidential candidate known for his pro-Moscow views, was beaten by a crowd earlier today.