The Biden administration is preparing sanctions targeting Russian companies it says provides goods and services to Moscow's military and intelligence services, the Wall Street Journal reported on Friday.

The U.S. Treasury Department sanctions could be announced as early as next week, the report said, citing U.S. officials.

The Treasury Department declined to comment on the report.

Most of the companies that are expected to come under the reported sanctions, including Serniya Engineering and equipment maker Sertal, were earlier added to a U.S. list banning exports of sensitive technologies to them.

While that blackballs the firms, it does not ban all business dealings, the report added.