What are the kind of sanctions that have been put on Russia and what more is expected?

Broadly there are five levels of sanctions by Western nations on Russia, which can be summarized as under.

a) UK announced sanctions on 5 Russian banks and the US sanctioned 2 Russian banks doing defence deals. As a result, US assets of these banks would be frozen and no US citizen or resident can do business with these banks.

b) Japan and EU have already banned Russian government bonds from their bond markets. But as we saw last time, Chinese banks are likely to fill the gap. US citizens now cannot even buy Russian sovereign bonds in the secondary markets.

c) There are also sanctions on specific individuals and these sanctions are on people of importance like large businessmen closely connected to the government, defence manufacturers, top government officials and bureaucrats etc.

d) A very important sanction will be the bar on Nord Stream 2 gas pipeline. Germany may put Nord Stream 2 on hold but EU depends on Russia for 35% of energy needs. The US also plans restrictions on export of US chips to Russia and Japan has already done that.