Russian President Vladimir Putin signed a counter-sanctions bill in response to the US' latest sanctions against the country.
The legislation will be applied to any state or person for "hostile actions" against Russia and permits authorities to halt international cooperation with foreign states, and to impose import and export restrictions and other measures.
The new measures, designed to safeguard "economic interests and security," was drafted by State Duma Speaker Vyacheslav Volodin and the heads of all four parliamentary caucuses in mid-April and approved by Russian lawmakers by the end of May.
On April 6, US Treasury Secretary Steve Mnuchin announced the fresh sanctions on the Russian Oligarchs and 12 companies they own, 17 senior Russian officials and a state-owned arms export firm, over a range of activities, including Moscow's alleged meddling in the 2016 US presidential election.
Washington said the punitive measures are in response to Russia's policies regarding Ukraine and Syria, as well as its cyber activities and attempts to subvert Western democracies. The US sanctions are the most significant since Crimea's re-integration with Russia in 2014.
Moscow has already banned a wide range of food imports to Russia from Western countries in 2014, retaliating against US-led sanctions over the Ukraine conflict, with which Russia says it has nothing to do.
Source: News Agencies, Edited by website team