The Trump administration levied sanctions Friday against more than three-dozen Russian individuals and entities, targeting senior Russian government officials as well as some of President Vladimir Putin’s closest business allies and the companies they own.

The action is one of the administration’s toughest punitive measures against Russia to date. U.S. officials say it is a response to Russian aggressions, including meddling in U.S. elections, cyberattacks on critical U.S. infrastructure, the Kremlin’s military intervention...