The United States is preparing to announce a ban on new investments in Russia, while tightening sanctions on the country’s financial institutions, state-owned companies and government officials, people familiar with the matter said on Tuesday.

“These measures will weaken a key tool of Russian state power, cause serious and immediate economic harm to Russia, and hold Russia’s kleptocrats accountable for funding and supporting Putin’s war,” one of the people said, adding that the new The sanctions were due on Wednesday and were coordinated with the G7 and the European Union.

“These measures will be taken in tandem with our allies and partners and demonstrate our determination and solidarity to pay an unprecedented price for Russia’s war against Ukraine,” the person added.

call to add sanction Incidents in Moscow have multiplied in recent days as evidence of Ukrainian war crimes has mounted, including the massacre of civilians in the town of Bukha on the outskirts of the capital Kyiv. The European Union moved this week to ban Russian coal and other measures to further reduce its reliance on energy imports from Russia.

America has prohibit New investment in Russia’s energy sector, but measures taken on Wednesday are expected to impose a ban across the Russian economy as part of a package aimed at putting the country “further on a path of economic, financial and technological isolation,” the person said. Indicates familiarity with the plan.

Since Russia invaded Ukraine, the United States and its allies have imposed massive sanctions on Russia, including a ban on any transactions with the Kremlin’s central bank. It has become increasingly difficult to find other ways to impose economic penalties on Moscow without risking a huge negative spillover to the global economy.

At the same time, the United States and the European Union are trying to tighten enforcement of existing sanctions on Russia to limit Moscow’s ability to circumvent financial penalties by moving assets to other jurisdictions around the world.

U.S. National Security Adviser Jack Sullivan on Monday defended the aggressive use of sanctions against criticism for their failure to prevent war.

“It will take time to weaken the elements of Russian power in the Russian economy, batter their industrial base, and crack down on the sources of income that underpin this war and underpin Russian kleptocracy,” he said.

“[Sanctions] is a key tool that ultimately yields a better outcome for this conflict than would otherwise be possible,” he added.

On Tuesday, the U.S. Treasury Department announced that it would impose sanctions on Hydra, a Russian darknet marketplace, and Garantex, a virtual currency exchange that operates primarily outside Russia.

Launched in 2015, Hydra It is the largest marketplace on the dark web by revenue. It is popular among cybercriminals looking for hacking tools and money laundering services and looking to trade stolen data and drugs. The Treasury Department said both Hydra and Garantex were used by ransomware criminals — many of whom operate with impunity in Russia or Russia-affiliated countries — to launder millions of dollars.

Western experts have warned that as existing sanctions affect and hurt the economy, there could be a surge in economically motivated cybercrime from Russia.

“The global threat of cybercrime and ransomware originating in Russia, and the ability of criminals to go unpunished there, is deeply concerning to the United States,” said U.S. Treasury Secretary Janet Yellen. “Our actions today send a message to criminals that information, you can’t hide on the dark web or their forums, you can’t hide in Russia or anywhere else in the world.”