The senior officials from the group, which has carried out ransomware attacks across the United States and Europe, will be banned from entering Australia under the penalties.
The sanctions on Maksim Viktorovich Yakubets, Igor Olegovich Turashev and Aleksandr Viktorovich Ryzhenkov will make it an offence for people to provide or deal with assets belonging to the Russians.
The sanctions from Australia were carried out alongside similar penalties imposed by the US and UK.
Foreign Minister Penny Wong said the sanctions were part of efforts to deter cybercrime.
"We are using all elements of our national power to make Australia more secure and to keep Australians safe," she said.
"Australia remains committed to promoting a rules-based cyberspace, grounded in international law and the norms of responsible state behaviour in cyberspace."
The Russian cyber criminal gang have been accused of stealing hundreds of millions of dollars around the world in hacking efforts.
Defence Minister Richard Marles said the sanctions would help to deter other cyber attacks.
"These sanctions are only possible because of the efforts of our domestic and international partner agencies who work tirelessly to disrupt cybercriminals and protect Australians from ransomware," he said.
"We encourage all Australian individuals and businesses to be vigilant about their cyber security arrangements to help make Australia a harder target against malicious cyber activity."
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