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The recent suspension of Russia from the G8 club of rich countries has been described as "no big deal" by the President Vladimir Putin-led administration.
The group of leaders retaliated over President Vladimir Putin's annexation of Ukraine's region of Crimea by agreeing to exclude Russia from their meetings.
United States of America's President, Barack Obama, joined David Cameron of UK and the leaders of France, Germany, Canada, Italy and Japan to impose the penalty.
Russian Foreign Minister Sergey Lavrov said G8 is an informal organization that does not give out any membership cards and, by its definition, cannot remove anyone.
According to him, all the economic and financial questions are decided in G20, and G8 exists as a forum for dialogue between the leading Western countries and Russia.
However, the G8 stopped short of permanently barring Russia from the top table of international politics, holding open the prospect of readmission if Moscow agrees to "abide by international rules".