The United States imposed a broad array of sanctions on Russia, including curbs to its sovereign debt market, to punish it for interfering in last year’s U.S. election, cyber hacking, bullying Ukraine and other alleged malign actions, writes Reuters.

The U.S. government blacklisted Russian companies, expelled Russian diplomats and barred U.S. banks from buying sovereign bonds from Russia’s central bank, national wealth fund and Finance Ministry. The United States warned Russia that more penalties were possible but said it did not want to escalate.

The Russian Foreign Ministry reacted angrily, summoning the U.S. ambassador for a diplomatic dressing-down to tell him “a series of retaliatory measures will follow soon”. A ministry spokeswoman also said a possible summit could be imperiled.

Russia denies meddling in U.S. elections, orchestrating a cyber hack that used U.S. tech company SolarWinds Corp (SWI.N) to penetrate U.S. government networks and using a nerve agent to poison Kremlin critic Alexei Navalny.

The Treasury also blacklisted 32 entities and individuals that it said had carried out Russian government-directed attempts to influence the 2020 presidential election and other “acts of disinformation and interference”.