The bill was passed by the House of Representatives of the U.S. Congress on Tuesday.
But Mr Trump has sought closer ties with Russian Federation, and has the power to veto the bill despite its political support. They've also traditionally favored a policy that keeps Moscow in check for its own aggressive measures in Eastern Europe and Syria, as well as its efforts to disrupt elections in the USA and across Europe.
Russian President Vladimir Putin walks down the steps as he arrives at the Savonlinna airport in Eastern Finland on Thursday July 27, 2017.
The legislation was in part a response to conclusions by U.S. intelligence agencies that Russian Federation meddled in the 2016 USA presidential election, and to further punish Russian Federation for its annexation of Crimea in 2014. The president denies any collusion between his campaign and Moscow.
After being passed 419 to three in the House, the sanctions package will be sent to the Senate, where the Republican senators remain in favor of it.
Republicans and Democrats have pushed for more sanctions partly as a response to conclusions by US intelligence agencies that the Kremlin interfered in the election.
Russian President Vladimir Putin, who has repeatedly denied USA allegations that Russia interfered with last year's US presidential election, said Moscow would only decide on how to retaliate once it had seen the final text of the proposed law.
"We haven't seen the final version yet, so we haven't got any kind of definitive view on it", Putin said, "but we can see that over a lengthy period they are trying to provoke us more and more".
The first sanctions were put in place under previous President Barack Obama in the wake of the annexation of Crimea in 2014 by Russian Federation, for violating the territorial integrity of neighboring Ukraine.
Besides angering Moscow, the proposed legislation has upset the European Union, which has said the new sanctions might affect its energy security and prompt it to act, too.
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She said, "Whoever made a decision to state that that was the cause, that has nothing to do with her filing for divorce ". Then lacing into White House adviser Steve Bannon, he added, "I'm not Steve Bannon, I am not trying to suck my own c-k".
"President Donald J Trump read early drafts of the bill and negotiated regarding critical elements of it", a White House statement said.
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"We'll review that and let you know what we do", she told reporters on Thursday night outside the White House. "I believe that Putin still believes there might be something he can do with Trump".
Anthony Scaramucci, Donald Trump's new communications director, told CNN on Thursday that the US President may veto the bipartisan sanctions, breaking with the widespread approval the measures received on Capitol Hill.
Trump can impose new sanctions at any time through an executive order. "And we want to make sure that they're tough sanctions and that they're durable sanctions". Russian Federation said it reserved the right to take further measures if the US retaliates.
The new bill could be sent to the U.S. president before lawmakers leave for their August recess.
If he opts for a veto, the bill can become law anyway if two-thirds of both the House and Senate vote for an override.
Russian President Vladimir Putin tossed President-elect Donald Trump a bouquet in December when he chose not to retaliate for the US expulsion of Russian diplomats and seizure of Russian diplomatic compounds.
The outgoing Obama administration seized two Russian diplomatic compounds - one in NY and another in Maryland - at the same time as it expelled the Russian diplomats in December. "We agreed to increase cooperation in this region, incluyding within the framework of Finland's presidency in the Arctic council", Putin said after the meeting.
He added the "extraterritorial nature" of the legislation was unacceptable and harmful to worldwide relations and global law.
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