The sanctions are meant to hobble Russia’s ability to wage war and to induce Putin's inner circle to pressure the Russian leader to end his aggression against Ukraine.
The Biden administration tightened the noose around Russia's economy tighter Thursday,
Imposing a new set of sanctions on Russian elites targeting those who may be helping Russian President Vladimir Putin and others hide assets and avoid earlier sanctions.
The new actions also further restrict Russia's ability to gain technology it needs "to sustain aggression and project power," according to a White House fact sheet.
The moves are intended to further damage the Russian economy – already projected to shrink by double digits this year,
With inflation expected to hit 20% – and make the invader nation "a global financial pariah," the White House said.
Added targets of existing sanctions include Sergei Roldugin, money manager of Putin's offshore wealth, along with Roldugin's family.
Also added to the list are Putin-linked yachts, Kremlin-aligned yacht brokerages, government ministers overseeing important sectors of the economy,
And the president of the state-owned United Aircraft Corporation, a leading Russian defense company.
The Commerce Department, meanwhile, is adding 71 Russian and Belarusian entities to its list of those banned from obtaining certain technologies and software.
The move is intended to frustrate Russia's ability to wage war.