The US government is set to issue a wide range of sanctions against Russia, according to reports.
The move would be retaliation for cyber-attacks aimed at the US, including alleged interference in the 2020 presidential elections.
The sanctions, expected as soon as Thursday, target more than 30 Russian entities and include the expulsion of at least 10 individuals from the US.
Diplomats will reportedly be among those targeted.
The administration of US President Joe Biden is also expected to issue an executive order barring US financial institutions from purchasing ruble-denominated bonds from June, sources told BBC partner CBS News.
The sanctions would come at a tense time for US-Russia relations.
In a call with Russian President Vladimir Putin on Tuesday, Mr Biden said the US would “act firmly” in defence of its national interests.
Mr Biden also proposed a meeting with Mr Putin “in a third country” that could allow the leaders to find areas to work together.
In a televised interview last month, he replied “I do” when asked if he thought Mr Putin was a “killer.” He said the days of the US “rolling over” to the Russian president were done.