Russia sanctions

Meanwhile, the Russian economy is expected to contract by some 11% this year as a result of sanctions, and several other countries in the region are projected to fall into recession.

The United Kingdom is going after what it calls the "lavish lifestyles" of the daughters of Russia's president and foreign minister.

The paintings and sculptures, some of which are reportedly priceless, had been loaned by Russia to museums in Italy and Japan. Finnish agents detained them at a border crossing over the weekend.

Detaining the yacht, named Phi, is "a clear and stark warning to Putin and his cronies," Britain's transport secretary said. Officials said the yacht's ownership is "deliberately well hidden."

The U.K. announced new economic sanctions against Russia and sanctioned more oligarchs and politicians. Government officials say they've designated more than 1,000 entities since the invasion began.

The Russian billionaire faces an asset freeze and travel ban, just a week after he announced plans to sell the club. The U.K. government aims to shield players and fans from the sanctions' impact.

France says it seized a yacht belonging to Igor Sechin, an oil executive and close ally of Russian President Vladimir Putin, after the U.S. and European Union sanctioned a slew of Russian oligarchs.

Companies ranging from General Motors to UPS are exiting or reducing their operations in Russia as wide-ranging sanctions make it all but impossible to operate in the country.

President Biden announced more sanctions on Russia's military and economy over its invasion of Ukraine. Sanctions have become a favored tool in presidents' arsenals, but they don't always work.