The U.S. plans to announce sanctions against Russian oligarchs over the Kremlin’s meddling in U.S. elections, according to multiple news outlets.

Fox News Channel, citing “a senior administration official,” reported Wednesday evening that “the sanctions would be announced by the end of this week.”

The sanctions, many details of which remained unclear, are expected to target business leaders close to President Vladimir Putin. They were first reported by Reuters news agency.

The moves will be made under a law allowing for sanctions against foreign individuals and entities that interfere in American elections. Under that same law, the White House last month sanctioned 19 individuals and five entities, including Russian intelligence services.