Today, the Biden Administration will be announcing tough new sanctions on Russia for its interference in our elections, the SolarWinds hacking attack last year, and other matters. According to a New York Times report:
"The sanctions will be among what President Biden’s aides say are “seen and unseen” steps in response to the hacking, known as SolarWinds; to the C.I.A.’s assessment that Russia offered to pay bounties to militants in Afghanistan to kill American troops; and to Russia’s yearslong effort to interfere in United States elections, according to American officials and others who have been briefed on the actions.
The moves will include the expulsion of a limited number of diplomats, much like the Obama administration did in response to the Russian efforts to influence the election five years ago. But it is unclear whether this set of actions will prove sufficient to deter Russia from further hacking, influence operations or efforts to threaten European countries.
The sanctions are meant to cut deeper than previous efforts to punish Russia for interfering in elections, targeting the country’s sovereign debt, according to people briefed on the matter. Administration officials were determined to draft a response that would impose real costs on Moscow, as many previous rounds of sanctions have been shrugged off." (our emphasis)
According to the article, the most serious action would be against Russia's financial sector, specifically its bond market's ability to raise funds.
Earlier this year, the U.S. imposed sanctions on Russian officials for the poisoning and imprisonment of opposition leader Alexi Navalny, but they were targeted at specific officials in the state security apparatus with a direct link to Navalny's poisoning and arrest.
The Biden Administration and NATO are also watching developments along the Ukraine - Russia border, where Russia has built up its forces in recent days.
BONUS: Here's more information from the Treasury Department on the sanctions.
