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Biden officials weighing Russia sanctions options after warnings about economic fallout, heightened cyber risk for US and allies

One concern is that those negative effects could boomerang back onto the US during an election year, sources told CNN. But others in the administration believe the tough sanctions being weighed would have a manageable impact on the US, and would be worth it to impose severe penalties on Russia.

The extent of the blowback would depend largely on the parameters of the sanctions and how much Europe would suffer, said Jeff Schott, a senior fellow at the Peterson Institute for International Economics who focuses on international trade policy and economic sanctions.

“The problem with discussing these countermeasures is that if you take a strong sanctions action that has a big impact on the European economy, that will in turn rebound to the US economy,” he said.

The administration has been considering options including targeting major Russian commercial banks, sanctioning Russia’s energy…
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