MOSCOW, RUSSIA - APRIL 20: Russian President Vladimir Putin crosses himself during the celebration of the Orthodox Easter in the Christ the Savior Cathedral on April 20, 2014 in Moscow,Russia. (Photo by Sasha Mordovets/Getty Images)

ST PETERSBURG, April 24 (Reuters) - Russian President Vladimir Putin said on Thursday that sanctions were hurting the Russian economy but that the damage was not critical.

"Overall they are causing (damage), because (credit) ratings are being reviewed, loans could become more expensive and so forth. But this is of no critical character," Putin said of sanctions imposed over Russia's annexation of Crimea.

Putin also condemned the use of sanctions as an instrument of interstate policy on Thursday, saying they damage all concerned and reflect badly on those who impose them.

"Overall they are harmful for everyone, they destroy the global economy (and) are dishonourable on the part of those who use those types of tools," Putin said. (Reporting by Alexei Anishchuk; Writing by Alessandra Prentice, Lidia Kelly, editing by Nigel Stephenson)