The Kremlin said on Friday that any new G7 sanctions on Russia's oil industry would backfire and that it would act to minimise the consequences of any such move and adapt.

Kremlin spokesperson Dmitry Peskov made the comment after being asked on a conference call about a report by Bloomberg News saying the G7 was weighing new oil sanctions.

(Reporting by Dmitry Antonov Writing by Felix Light Editing by Andrew Osborn)