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Presidential spokesman Dmitry Peskov said Moscow was "extremely worried" about the welfare of Russians in Slovyansk.
The "Joint Sea-2014" drills in the East China Sea comes days after the US and Japan released a joint statement claiming Japanese control over the disputed Diaoyu/Senkaku Islands.
Germany’s largest companies have urged German Chancellor Angela Merkel to reconsider the EU stance.
Russia has said it would respond to Western sanctions by scrutinizing foreign companies working in Russia’s key industries.
The Chinese Foreign Ministry warned sanctions could escalate the crisis.
The US and Canada have announced fresh sanctions against Russia for alleged provocation in the Ukraine crisis.
On Friday, the Western-backed Kiev government said one of its helicopters was downed by rocket fire in Eastern Ukraine.
The 2,400-kilometre-long South Stream would cross the Black Sea to reach Bulgaria and other EU members beyond.
Political analyst Dmitry Babich sees pitfalls in the Geneva agreements which could worsen the crisis.
The Russian President said on Saturday he saw no obstacles to bringing relations between Moscow and the West back to normal.