VLADIVOSTOK, Russia--Japanese firms dealing with Russia were experiencing little impact from U.S. sanctions on Moscow, but it was possible that they may also be sanctioned by the United States, the managing executive officer of Sumitomo Corporation said on Tuesday.

"At this moment we are not that affected," Hideki Yamano told Reuters on the sidelines of the Eastern Economic Forum at the Russian Far East port of Vladivostok.

Asked if future projects by Japanese firms might be hurt because of the U.S. sanctions, Yamano said it was possible.

"We are closely monitoring the development (with the new sanctions," he said.