Russia faces economic isolation as U.S. imposes sanctions on Putin's children and halts new investment.

• On Wednesday, the United States declared that it would implement a fresh set of sanctions on Russia, which includes imposing individual sanctions on the two adult daughters of Russian President Vladimir Putin for the first time.
• Katerina Tikhonova and Mariya Putina are in their 30s and are rarely seen in public. Their full names have never been disclosed by the Kremlin.
• According to a senior administration official, we suspect that many of Putin's assets are concealed with his family members, which is why we're focusing our efforts on them.

The US declared on Wednesday that it would impose new sanctions on Russia due to its invasion of Ukraine, and for the first time, these sanctions would target the two adult daughters of Russian President Vladimir Putin.

Katerina Tikhonova and Mariya Putina, both in their 30s, are rarely seen in public and almost never mentioned by their father. The Kremlin has only ever identified them by their first names.

According to a senior administration official, our belief is that many of Putin's assets are concealed with family members, which is why we are focusing on them with our new measures.

In 2015, Putin admitted that his daughters resided in Russia and were proficient in several languages. However, he stated, "I have never disclosed where my daughters work or what they do, and I will not do so now, due to various reasons, including security concerns."

The White House announced that in addition to Putin’s daughters, it will sanction Foreign Minister Sergey Lavrov’s wife and daughter, as well as Former President and Prime Minister of Russia Dmitry Medvedev and Prime Minister Mikhail Mishustin.

Russian troops' alleged war crimes in Bucha prompted the latest round of U.S. sanctions, officials stated.

Following Russia's weekslong occupation of the village, civilians were discovered with their hands tied behind their backs and shot to death.

In a speech in Washington on Wednesday, President Joe Biden stated that there is "nothing less" happening than major war crimes.

We must unite as responsible nations to punish these offenders," he stated. "With the help of our allies and partners, we will continue to increase the economic burden and intensify the suffering for Putin.

Biden announced that he will issue a new executive order preventing Americans from making any new investments in Russia, including those residing both domestically and abroad.

Russia's two largest banks, Sberbank and Alfa Bank, will face full blocking sanctions for the first time, but with exceptions for energy purchases.

The Treasury Department will reveal specific Russian state enterprises that are being placed under full blocking sanctions, as announced by the White House.

The G-7 group of developed economies and the European Union are working together to coordinate new sanctions against Russia, with the aim of maximizing their effectiveness and minimizing evasion opportunities for the Kremlin.

Several mega yachts owned by sanctioned Russian billionaires have been seized at luxurious vacation ports in Europe, showcasing a highly visible example of coordination.

On Monday, in the Spanish resort town of Palma de Mallorca, law enforcement officials from the U.S. and Spain collaborated to seize a $90 million mega yacht owned by sanctioned Russian billionaire Viktor Vekselberg.

In his speech to leaders of several building trade unions on Wednesday, Biden emphasized the international yacht seizure program.

Did you notice the yachts being towed away?" he questioned the crowd, astonished. "Consider the immense sums of money these oligarchs have embezzled.

Biden stated that oligarchs linked to the Kremlin will not be permitted to retain their yachts and luxury vacation homes, worth hundreds of millions of dollars, while children in Ukraine are being killed.