U.S. Republican and Democratic senators will introduce legislation on Wednesday seeking to deter Russia from meddling in U.S. elections by threatening stiff sanctions on its banking, energy and defense industries and sovereign debt, reports Reuters.

Known as the “Deter Act,” the legislation is the latest effort by U.S. lawmakers to ratchet up pressure on Moscow.

The measure will be introduced by Senators Chris Van Hollen, a Democrat, and Marco Rubio, a Republican. They offered a similar measure last year, when it also had bipartisan support.

According to details of the legislation seen by Reuters, it would require the U.S. Director of National Intelligence (DNI) to determine, within 30 days of any federal election, whether Russia or any other foreign government, or anyone acting as an agent of that government, had engaged in election interference.

If the DNI found such interference occurred, the act would require, among other things, that mandatory sanctions be imposed within 10 days on, among others, Russian banks and energy companies.