Australian Prime Minister Scott Morrison has announced that Australia has decided to impose sanctions against Russian President Vladimir Putin and other representatives of the Russian leadership.

"As of midnight last night, Australian targeted financial sanctions and travel bans against the Russian president and other permanent members of the Russian Security Council came into effect," the prime minister said in a statement released on Monday.

Prime Minister Mikhail Mishustin, Russian Foreign Minister Sergei Lavrova, Defense Minister Sergei Shoigu and Interior Minister Vladimir Kolokoltsev were also sanctioned.

Morrison added that "this reflects the depth of our concerns" in connection with the situation around Ukraine.

The statement says that the Australian government has pledged to provide Ukraine with "lethal and non-lethal military equipment, medicines," as well as allocate financial assistance to Ukraine, and contribute $3 million to the NATO fund for Ukraine.

Details of this assistance "are being worked out with partners and will be announced in the near future," the prime minister's office said.