Biden administration imposes new sanctions on Putin's daughters and Russian banks

The US announced new sanctions Wednesday on Russian financial institutions and individuals, including Russian President Vladimir Putin's two adult daughters, as it aims to increase economic pressure on Russia and Putin himself following horrific images from the Ukrainian city of Bucha.
The US also announced sanctions on the wife and daughter of Putin's foreign minister, Sergey Lavrov.
"Today we're dramatically escalating the financial shock by imposing full blocking sanctions on Russia's largest financial institution, Sberbank, and its largest private bank, Alfa Bank," a senior administration official briefing reporters said. The US is targeting Putin's two adult daughters because they believe the Russian President may be hiding some of his assets with them, according to the senior administration official.
Without detailing which of Putin's assets could be hiding with Mariya Putina and Katerina Tikhonova, the official said the practice was common among the Russian elite.