The measures, which are being prepared ahead of Russia's presidential election in March, would be a huge blow to already tattered US-Russia ties.
Vyacheslav Volodin, speaker of the lower house of Russia's parliament, the State Duma, charged deputies with updating existing legislation after state-controlled Russia Today (RT) television was ordered by Washington to register as a "foreign agent" by Monday.
Volodin told Russian reporters the new measures, which would affect dozens of US news organisations operating in Russia including CNN and Voice of America, could be adopted at first reading on Wednesday and at a third and final reading next Friday.
"What the US authorities are doing today is an infringement on fundamental civil rights, on freedom of speech," Volodin said.
"The United States speaks beautifully about the freedom of speech when it comes to other countries but acts dogmatically itself."
His deputy Pyotr Tolstoy called for the mobilisation of all of the country's political forces, saying it was "an emergency situation."
Lawmakers said the measures targeting US media would be "reciprocal" and would set the same limitations that US authorities were seeking to impose on Russian media.
Russian telecoms watchdog Roskomnadzor, for its part, proposed blocking the websites of foreign media groups and nongovernmental organisations, without any need of a court order.
Roskomnadzor has repeatedly threatened to block Facebook and Twitter if they do not comply with a government demand to store the personal data of Russian nationals on Russia-based servers.
In 2012, Moscow adopted a law which requires NGOs that receive funding from abroad to register as "foreign agents", a move critics said was part of a clampdown on civil society.
The head of Russia Today, Margarita Simonyan, said the broadcaster was "suddenly" told by Washington it had until Monday to register as a "foreign agent" in the United States or face having its accounts frozen, among other measures.
She said RT would challenge the demand by the US Department of Justice in court.
Speaking on national television late Thursday, Simonyan said the demand would hinder the channel's work in the United States because it would have to publicise internal documents including their employees' addresses and salaries.
"It will very much complicate the possibility of interviewing people because we will have to report this too," she said. "There are a huge number of limitations."
"It deprives us of fair competition with other international channels, which are not registered as foreign agents," she was quoted as saying by RT.
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