Why the U.S. is targeting Putin’s daughters Katerina and Maria

Sanctions announced Wednesday also include the daughter and wife of Russian foreign affairs minister Sergei Lavrov

The United States’ latest round of sanctions on Russia includes two new targets: Russian President Vladimir Putin’s two adult daughters, Katerina and Maria, who U.S. officials believe are hiding Putin’s wealth.

Putin’s daughter Katerina Vladimirovna Tikhonova is a tech executive whose work supports the Russian government and its defense industry, according to details in the U.S. sanctions package announced on Wednesday.

His other daughter Maria Vladimirovna Vorontsova leads government-funded programs that have received billions of dollars from the Kremlin toward genetics research, and are personally overseen by Putin, the United States said.

“We have reason to believe that Putin, and many of his cronies, and the oligarchs, hide their wealth, hide their assets, with family members that place their assets and their wealth in the U.S. financial system, and also many other parts of the world,” a senior U.S. administration official told reporters.

“We believe that many of Putin’s assets are hidden with family members, and that’s why we’re targeting them,” the official said, speaking on condition of anonymity.

Reuters was not immediately able to reach Putin’s daughters, their representatives or the Kremlin for comment.

Sanctions announced Wednesday also include the daughter and wife of Russian foreign affairs minister Sergei Lavrov. The U.S. also banned Americans from investing in Russia, and targeted Russian financial institutions and Kremlin officials, in response to what President Joe Biden condemned as Russian “atrocities” in Ukraine.