WASHINGTON – The Biden administration will impose a series of retaliatory measures against Russia on Thursday in response to alleged electoral interference in Moscow, an extensive hacking campaign and other malicious activities, according to people familiar with the matter.
Through a new executive order, the measure will extend existing bans on U.S. banks operating in Russian public debt, two of the people said. Earlier bans targeting parts of Russia’s sovereign debt shook Russia’s markets and added to its economic problems.
This order prohibits US financial institutions from buying bonds directly from Russia’s central bank, the finance ministry and the country’s large sovereign wealth fund after June 14th.
Among other measures, 10 Russian diplomats will be expelled, including some because of allegations that Russia offered to pay rewards to Afghan militants for killing members of the U.S. military service, the people said. Sanctions will be imposed for cyber intrusions in Russia, electoral interference and the occupation of Crimea.
Russia’s foreign intelligence service, the SVR, will be formally accused of carrying out the so-called SolarWinds hacking of US government and corporate computer systems. Collectively, the actions are intended to punish Moscow while deterring the Kremlin from further provocations.