US intelligence chiefs have told congress Russia meddled in the election, but Putin has repeatedly denied any Russian involvement.
Trump said Saturday he believes Vladimir Putin is being sincere when he denies meddling in the US election that propelled Trump to power.
The legislation is aimed at punishing Moscow for meddling in the presidential election and its military aggression in Ukraine and Syria.
The US Congress reached an agreement to impose new sanctions on Russia for its alleged interference in the 2016 presidential election and its actions in Ukraine.
Donald Trump defended his eldest son Don Jr, who is under fire for his meeting with a Russian lawyer during last year's US presidential campaign.