Ukrainian Prime Minister Denis Shmyal announced Kyiv's intention to nationalize the property of the Russian government and state on Ukrainian soil in compensation for war losses that cost Kyiv more than $86 million per day.
In Washington, the US Treasury announced sanctions against the Russian state-owned company Alrosa, the largest diamond mining company in the world, responsible for 90% of diamond mining operations in Russia.
The US Treasury also re-listed the Russian government-owned shipbuilding company USC and its subsidiaries on the sanctions list.
A ministry statement stated that the company develops and builds most of the Russian warships.
The US Treasury said the sanctions were part of ongoing efforts to restrict the Kremlin's access to assets and resources necessary to supply the war in Ukraine.
Meanwhile, Reuters quoted the British government as saying that Russia is heading for the deepest economic recession since the collapse of the Soviet Union.
Sanctions on Russia
Russia has recently been reeling under the weight of dramatic economic sanctions, and while energy trade continues, it has effectively been cut off from the global financial system.
Perhaps the exchange rate of the ruble (the local currency of Russia) nominally recovered and returned to its pre-war level.
But its actual market value is speculative, there is no longer a free market in rubles or Russian financial assets, and the withdrawal of Western companies from Russia has exacerbated the shock, and even if a ceasefire is reached, the prospects for Russia's long-term development are bleak, according to observers.
The leaders of the Group of Seven and the European Union took action on March 24 to continue economic sanctions and prevent the Russian Central Bank from using its international reserves, including gold, to impede war financing, and it is estimated that 60% of the central bank's international reserves have been frozen by countries Western.