The bill would affect a range of Russian industries and might further hurt the Russian economy, already weakened by 2014 sanctions imposed after the Ukraine crisis.
The sanctions have yet to be approved by the Senate or Trump, and a top White House aide said on Thursday that Trump could veto the legislation in order to push for a tougher deal. Russian news agency Interfax reported that the USA would have to cut "hundreds" of its staff.
But the debate over the new measures has taken place against the backdrop of an ongoing investigation into alleged Russian meddling the in the 2016 presidential election.
Never in doubt was a cornerstone of the legislation that bars Mr Trump from easing or waiving the additional penalties on Russian Federation unless the US Congress agrees.
Trump may support Russian Federation sanctions legislation
The draft USA sanctions law would target Russian energy, financial, railways, shipping, and metals and mining sectors. The draft US sanctions law would target Russian energy, financial, railways, shipping, and metals and mining sectors.
Mr Trump's communications director Anthony Scaramucci suggested on Thursday that the president might veto the bill and "negotiate an even tougher deal against the Russians".
The House of Representatives and the Senate have voted for another round of sanctions against Russian Federation this week. We believed and we continue to believe that global issues could only be resolved jointly.
"We are behaving in a very restrained and patient way, but at some moment we will need to respond", Putin said at a press conference during his state visit to Finland. "It is impossible to endlessly endure impudence towards our country". What will it be?
In an apparent concession, the House modified a provision so the Bill targets only pipelines originating in Russian Federation, sparing those that merely pass through, such as the Caspian pipeline that carries oil from Kazakhstan to Europe.
"I think our main concern overall with sanctions is how will the Congress craft them, and any potential erosion of the Executive Branch's authority to implement them", Spicer said last week.
"While the President supports tough sanctions on North Korea, Iran and Russian Federation, the White House is reviewing the House legislation and awaits a final legislative package for the President's desk", said White House press secretary Sarah Sanders in a statement Tuesday.