The US House of Representatives adopted a non-binding resolution in a 402-7 vote on Tuesday to denounce Russia's actions in Ukraine and urge the White House to exclude Russia from the G8 and to impose sanctions on the country.
The lawmakers who voted for the resolution also called for sending OSCE observers to Crimea and other Ukrainian regions and urged NATO to suspend military cooperation with Russia, including the supply of military equipment.
The resolution urges the administration of US President Barack Obama to "work with our European allies and other countries to impose visa, financial, trade and other sanctions on senior Russian Federation officials, majority state-owned banks and commercial organizations, and other state agencies, as appropriate."
Russian President Vladimir Putin has said that potential sanctions over Ukraine would be a double-edged sword due to the interdependence of global trade.
The House resolution also proposes giving economic assistance to the new Ukrainian authorities and easing Ukraine's energy dependence on Russia.
Commenting on the possibility of US financial assistance to the current Ukrainian authorities, President Viktor Yanukovych said during a news conference in Russia that Washington has no right "to finance bandits."
The pro-Russian government of the Crimea declared independence Tuesday ahead of a referendum scheduled for March 16.