Australia has made a decision to impose sanctions against Russian President Vladimir Putin and other members of the Russian administration, Australian Prime Minister Scott Morrison said.

"From midnight last night, Australian targeted financial sanctions and travel bans came into effect on the Russian President and remaining permanent members of Russia's Security Council," the prime minister said in a statement released on Monday.

In particular, sanctions were imposed on Russian Prime Minister Mikhail Mishustin, Foreign Minister Sergei Lavrov, Defense Minister Sergei Shoigu, and Interior Minister Vladimir Kolokoltsev.

It "reflects the depth of our concerns" about the situation in Ukraine, Morrison said.

According to the statement, the government of Australia will provide to Ukraine "lethal as well as non-lethal military equipment, medical supplies, and financial assistance" and "will contribute $3 million to NATO Trust Fund Ukraine.

Details of this assistance "are being worked through with our partners and will be announced soon," the prime minister's office said.