By itself, being on the Putin list doesn't trigger U.S. sanctions. Yet the list, being developed by the Treasury Department, has induced fear among rich Russians who are concerned that it could lead later to U.S. sanctions or to being informally blacklisted in the global financial system. It has triggered a fierce lobbying campaign, with Russia hawks in Congress pushing the administration to include certain names and lobbyists hired by Russian businessmen urging the administration to keep their clients off.