Mr Savvides was named on a “stop list” - announced by the Russian Ministry of Foreign Affairs (MFA) on Thursday - .
Those included ABC chair Ita Buttrose, Defence Force chief General Angus Campbell, News Corp co-chair Lachlan Murdoch and a number of journalists from ABC News, the Sydney Morning Herald, Nine and Sky News.
The move came in response to Australian government sanctions against Russian individuals, announced by former prime minister Scott Morrison following the Russian invasion of Ukraine on 24 February.
The MFA accused those on the list of promoting a "Russophobic agenda" in Australia.
Mr Savvides' inclusion comes after the MFA the SBS Russian language radio service of joining a “Russiaphobic campaign” in its Ukraine war coverage on June 14.
Mr Savvides on Friday said that the SBS board and management are "proud of and stand by our coverage of Russia's invasion of Ukraine".
"Across all our services, including SBS World News and our SBS Russian and SBS Ukrainian language services, we have provided audiences in Australia with strong and impartial coverage of the conflict. It is a clear demonstration of the vital role of a free press within our democracy."
The Russian Embassy in Australia told SBS Russian that the stop list "can hardly be seen as a surprise".
A general view of the Russian embassy in Canberra. Source: AAP
"The MFA of Russia statement of 7 April said there will be 'subsequent announcements expanding the sanctions blacklist to include Australian military, entrepreneurs, experts and media figures who contribute to negative perceptions of our country," a spokesperson from the embassy said on Friday.
When asked why Mr Savvides was included on the list, the spokesperson said: "We also don’t deem it appropriate to provide explanations for every particular designation."
"However, if Mr George Savvides feels he was unreasonably sanctioned he may apply through this embassy for his name to be removed from the list setting out the circumstances relied upon to justify the application," the spokesperson added.
South Australian Premier Peter Malinauskas was also included on the blacklist, making him the first Australian state leader to be sanctioned.
Newly-elected South Australian Premier Peter Malinauskas Source: AAP
"I'm very grateful for the fact that Vladimir Putin has paid attention to the leading role that South Australia is paying for standing up for the democratic values that we collectively as a country hold dear," Mr Malinauskas said during the National Cabinet meeting on Friday.
"My heritage - Malinauskus is a Lithuanian last name - my family knows all too well the human tragedy that can occur in the face of unacceptable Russian aggression.
"I am very proud of the fact that my government has played a leadership role and I look forward to doing that in the future."
