US has sanctioned Putin, but what will that actually mean?

The Biden administration said it will follow in the footsteps of the European Union and impose sanctions against Russian President Vladimir Putin over his decision to send troops into Ukraine.

“Following a telephone conversation President Biden held with European Commission President Ursula von der Leyen and in alignment with the decision by our European allies, the United States will join them in sanctioning President Putin and Foreign Minister Lavrov and members of the Russian national security team,” White House press secretary Jen Psaki said on Friday.