The first round of the new sanctions, scheduled to take effect August 22, will include a broad ban on technology exports to Russian Federation.
The State Department announced the penalties on Wednesday - a response to the poisoning last March of former Russian agent Sergei Skripal, 66, and his daughter Yulia, 33, in the British town of Salisbury.
Russia says it is preparing "countermeasures" to what it calls "categorically unacceptable" new sanctions being imposed by the United States over Moscow's alleged poisoning of an ex-Russian spy in England with a military nerve agent. A second round of tougher sanctions could be imposed in 90 days if Moscow does not meet a list of demands, the State Department said.
"The categories covered by this (sanctions) include such things as electronics, computers, sensors and lasers, telecommunications, specialized oil and gas production equipment and information security technologies just to name a few", the official said.
Russia's financial stability assessments from the independent global observers highlight risks and further slowdown in growth. What's more, we can not even say for sure what exactly and how it was used in Britain, since we don't have any information or any response to our proposal for a joint investigation with Britain into this incident, which concerns us greatly.
The second round of sanctions could cut far deeper, including blocking all American bank loans to Russian entities, an outright ban on USA exports to Russia, and suspension of diplomatic relations. His administration has sanctioned a number of Russian officials and oligarchs for human rights abuses and election meddling.
He added that the United States move was "absolutely unfriendly", but reiterated Moscow's hope for improvements to the stressed relations between the two countries.
The Kremlin has strongly denied allegations that it was involved in the poisoning of Sergei Skripal and his daughter.
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Despite assurances, the ruble fell to a two-year low, and shares of Russian companies likely affected by the sanctions - including several banks and Russia's national air carrier Aeroflot - dipped in value.
In response they announced another round of sanctions targeting Russian Federation, which will take effect within two weeks.
Kremlin spokesman Dmitry Peskov came out swinging Thursday morning against a new round of US sanctions against Russian Federation.
He criticised the United States decision to link the sanctions to the British nerve agent case, an incident the Kremlin has long cast as a Western plot to damage its reputation and provide a pretext for more sanctions.
NBC, citing USA officials, said the second tranche could include downgrading diplomatic relations, suspending the state airline Aeroflot's ability to fly to the United States, and cutting off almost all exports and imports. Waivers have been issued for foreign assistance and space flight activities, while commercial passenger aviation and other commercial goods for civilian use will be assessed on a case-by-case basis, according to the official who briefed reporters.
Under the terms of the sanctions, any attempt by a US company to obtain an export licence to sell anything with a potential national security objective - gas turbine engines, electronics, integrated circuits and testing and calibration equipment - will be automatically denied.
President Trump met with Putin at a summit in Helsinki, Finland, in July, and was widely criticized by both Democrats and Republicans alike who accused Mr. Trump of being too conciliatory to Putin. Paul's meeting with Putin will allow Trump to communicate this uncomfortable decision with some diplomatic cordiality.