MOSCOW, February 21. /TASS/. The US administration has prepared an initial package of sanctions against Russia, that includes barring U.S. financial institutions from processing transactions for major Russian banks, Reuters reported citing sources on Monday.

According to them, the measures, which will only be implemented if Russia invades Ukraine, aim to hurt the Russian economy by cutting the "correspondent" banking relationships between targeted Russian banks and U.S. banks that enable international payments, Reuters says.

The final list of banks subject to sanctions is yet to be formed, but sources believe that VTB, Sberbank, VEB.RF and Gazprombank are likely to be included in it.

In addition, the United States will impose sanctions against Russian individuals and entities, which include freezing assets and banning any transactions. The White House and the US Treasury declined to comment.

Western countries and the Kiev regime have been spreading allegations lately about Russia’s potential invasion of Ukraine. Kremlin Spokesman Dmitry Peskov castigated these speculations as an "empty and groundless" escalation of tension. He did not rule out the probability of provocations to justify such allegations and warned that attempts to resolve the crisis in southeastern Ukraine through military means would have serious consequences.