U.S. Imposes Stiff Sanctions on Russia, Blaming It for Major Hacking Operation

The Biden administration on Thursday announced tough new sanctions on Russia and formally blamed the country’s premier intelligence agency for the sophisticated hacking operation that breached American government agencies and the nation’s largest companies.

In the broadest effort yet to give more teeth to financial sanctions — which in the past have failed to deter Russian activity — the actions are aimed at choking off lending to the Russian government.

In an executive order, President Biden announced a series of additional steps — sanctions on 32 entities and individuals for...