The sanctions against Gazprom Neft were imposed as part of wider restrictions against Russia over its illegal annexation of Crimea from Ukraine and its support for pro-Russian separatists in eastern Ukraine.
The EU sanctions restrict the ability of Gazprom Neft, Russia`s fourth biggest oil producer by output, to raise funds on European markets.
The United States also has imposed sanctions against Gazprom Neft in response to Russia`s role in Ukraine`s crisis.
The West says Moscow is supplying arms and troops to help pro-Russian separatists in eastern Ukraine battle Ukrainian government forces.
Moscow denies that, despite increasing evidence to support the charges.
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