The US and UK are banning Russian oil and the EU is ending its reliance on Russian gas, stepping up the economic response to the invasion of Ukraine.
US President Joe Biden said the move targeted "the main artery of Russia's economy".
Energy exports are a vital source of revenue for Russia but the move is also likely to impact Western consumers.
Major brands have meanwhile continued to pull out of Russia, with McDonald's and Coca-Cola the latest to leave.
Russia's economy is heavily dependent on energy. It is the world's third-biggest oil producer, behind Saudi Arabia and the US.
Before the measures were announced, Russia warned of "catastrophic" consequences for the global economy and said it might close its main gas pipeline to Germany.
The conflict has sent petrol prices to record highs in the US and the UK.
Its just burgers and sodas, but these are very visible brands, one would wonder whether more Russians ain't going to wonder what exactly is going on here, besides what the Russian media is telling them. Seriously, if Russia were doing a liberation operation, the Russian people must think that the rest of the world have gone completely crazy.
They can be that naive, its almost terrifying to witness the effect of propaganda. No wonder, Hitler manage to convinced the Germans or how other dictators manage to get away with it.