EXPLAINER: A look at toughest US sanctions facing Russia

By ELLEN KNICKMEYER and FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration has launched the first of what could be an ever-tougher series of sanctions targeting President Vladimir Putin, Russia’s overall economy and its military and civilian elites over its moves against Ukraine. Tuesday’s sanctions hit members of Putin’s inner circle and their families. Two banks that the U.S. considers especially crucial to the Kremlin and Russia’s military also were hit with sanctions, and their assets under U.S. jurisdiction frozen. The U.S. says it’s still holding in reserve sweeping bans that would cripple Russia’s ability to do business with the world.