MOSCOW- Russia would be ready to re-route supplies to other markets should new Western sanctions target its energy companies, finance minister Anton Siluanov said on Wednesday.

Siluanov did not say how Russia would divert its energy exports but said that Russia's foreign exchange reserves, National Wealth Fund and a budget surplus should shield its economy and banks from any possible sanctions hit. 

The United States and its allies are considering new sanctions including against Russia's largest banks, economy and energy sector, with export controls possible, in the event that Moscow invades its neighbour Ukraine.

The Kremlin denies it has any such intention. 

"Any export curbs would result in rising prices. And if such restrictions are to be applied then increases in prices should largely offset such curbs," Siluanov told reporters.

Russian imports account for 46% of the Europe's solid fuels, such as coal, 38% of the region's natural gas and 26% of its crude oil, Moody's research estimates.

China consumes some 1.5 million barrels per day of Russian oil, or a fifth of total Moscow's exports, which are shipped both via pipelines and ports.

However, pipeline gas supplies to China are not yet big and are due to be ramped-up in the coming years. 

(Reporting by Darya Korsunskaya; Additional reporting by Olga Yagova; Writing by Katya Golubkova; Editing by Jason Neely and Alexander Smith) ((ekaterina.golubkova@thomsonreuters.com; +7 495 775 1