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U.S., EU Crafting Sanctions on Russian Debt, Banks, Individuals

  • Penalties may also involve trade in key goods and industries
  • Allies trying to forge a plan that won’t harm their economies
Pedestrians in front of office buildings in the Moscow International Business Center, Moscow.

Pedestrians in front of office buildings in the Moscow International Business Center, Moscow.

Photographer: Andrey Rudakov/Bloomberg

The U.S. and the European Union are zeroing in on a package of sanctions against Russia should President Vladimir Putin decide to invade Ukraine, according to people familiar with the matter and documents seen by Bloomberg.

The measures would broadly fall into several categories including: restrictions on the refinancing of Russian sovereign debt, financial sanctions, and the singling out of individuals and entities close to the Kremlin. Western allies are also working on a series of trade-related measures covering key goods and sectors.