The U.S. will reportedly lay out new sanctions against Russian oligarchs this week as part of the Trump administration's response to Moscow's efforts to interfere in the 2016 U.S. presidential election.

The sanctions could be announced as soon as Thursday, U.S. officials told Reuters. The move targeting Russia's business elite could affect people close to Russian President Vladimir Putin.

Sources told the news outlet that the move would come under the Countering America’s Adversaries Through Sanctions Act (CAATSA), which Congress passed last year to punish Russia for aggressive military action in Ukraine and Syria as well as Moscow's meddling in the 2016 campaign.

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The Trump administration used CAATSA last month to slap sanctions on two-dozen Russian individuals and entities for their involvement in a two-year campaign of cyberattacks against the U.S.

The Treasury Department, which is tasked with listing individuals tied to Russian intelligence and defense who are eligible for sanctions, declined to comment to Reuters for its report.

“The administration is committed to implementing the CAATSA law as we have said many times," a senior U.S. official told the outlet. "We published an oligarch designation recently and the secretary of the Treasury said further action would be taken. But at this time we don’t have anything specific to announce.”