Russia is working on retaliatory measures against the newly imposed sanctions by the U.S., a Kremlin spokesman said Wednesday.

"Of course, the main principle of a response to the sanctions is the principle of reciprocity, so that’s quite understandable and clear," Dmitry Peskov said

Peskov told reporters that counter-measures are now being worked out and formulated at the experts’ level.

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday reinforced existing sanctions on Russia by designating or identifying a range of individuals and entities involved in the ongoing conflict under four executive orders related to Russia and Ukraine.

"U.S. sanctions on Russia related to the situation in eastern Ukraine will remain in place until Russia fully honors its obligations under the Minsk Agreements. U.S. sanctions related to Crimea will not be lifted until Russia ends its occupation of the peninsula," the OFAC said in a statement.

Ukraine has been wracked by conflict since March 2014 following Russia’s annexation of Crimea after an illegal independence vote.

The UN General Assembly later voted to proclaim the Russian annexation illegal. Along with many UN countries, the U.S., the EU, and Turkey also do not recognize Crimea as Russian territory.