WASHINGTON—Bipartisan legislation aimed at striking the Russian economy if President
invades Ukraine is nearing completion in the U.S. Senate, key senators said Sunday.
The legislation under negotiation among members of the Senate Foreign Relations Committee and others would target major Russian banks, hit Russians’ savings and pensions and limit the market for Russia’s sovereign debt, among other elements, Chairman
Sen. Bob Menendez
(D., N.J.) said Sunday.
The legislation appears to reflect measures being considered by President Biden’s administration, which administration officials said would target several of Russia’s largest government-owned banks, ban trade in new issues of Russian sovereign debt and apply export controls across key sectors.
Mr. Menendez and ranking…
