The United States Department of the Treasury and Russia's European partners involved in the Nord Stream 2 project will hold consultations on the sanctions imposed in relation to the gas pipeline on Saturday, Russian Deputy Prime Minister Dmitry Kozak told journalists.

"Consultations between the U.S. Department of the Treasury and our European partners will take place today to obtain explanations what those sanctions mean. Their wording is quite unclear. They, Europeans, don't understand what it means in the first place. When we will make sense of these sanctions - when they happen, what amount of these restrictions is imposed on European companies - after these consultations end, we can talk, it's still too early," Kozak said.