A day after branding Russia's moves "unacceptable, [...] unprovoked [and] unwarranted", Australia's Prime Minister Scott Morrison says his nation will also impose sanctions on the breakaway regions of Ukraine.

Australia's sanctions will target banks, transport, energy, oil, gas and telecommunications.

"We will be standing up to Russia, along with all of our partners and all those who believe that it's totally unacceptable that Russia could invade its neighbour," Mr Morrison told reporters in Australia.

Eight Russian individuals would be affected by Australia's sanctions, local media reported.