Russia does not rule out retaliatory measures if sanctions are imposed by the U.S. and European countries, a senior Russian economic official said Thursday, March 13, according to RIA Novosti.

“We hope that there will only be targeted political sanctions, and not a broad package affecting economic trade,” Deputy Economic Development Minister Alexei Likhachev said.

“Our sanctions will be, of course, symmetrical,” he added.

The threat of economic sanctions has sent Russian markets and the ruble reeling in recent weeks following Western outcries over the seizure of military bases in Ukraine’s autonomous republic of Crimea by troops lacking official insignia but widely believed to be under Russian command.

The White House announced visa bans on unnamed officials last week and said that targeted economic sanctions have been authorized against individuals responsible for violating the territorial integrity of Ukraine.

A U.S. bill expected to introduce broader and tougher sanctions against Russian officials passed the Senate Foreign Relations Committee Thursday and will now advance to a full vote in Congress.