Both countries targeted wealthy individuals and ruling elite around Mr. Putin as well as their assets.

Australia has announced additional sanctions on Russia and is warning businesses to prepare for retaliation through Russian cyberattacks.

Prime Minister Scott Morrison said Wednesday that targeted financial sanctions and travel bans will be the first batch of measures in response to Russian aggression toward Ukraine.

The National Security Committee in Morrison’s Cabinet approved sanctions and travel bans that target eight members of the Russian Security Council. They also agreed to expand previous sanctions and to align with the United States and Britain by targeting two Russian bank

Japan will implement a set of economic sanctions against Russia and two pro-Russian separatist regions in eastern Ukraine after Moscow formally recognized the areas and ordered the deployment of troops there, Prime Minister Fumio Kishida said Wednesday.

The government will suspend visa issuance for officials from the two regions and freeze their assets. It will ban exports to and imports from the self-proclaimed republics of Donetsk and Luhansk as well as the issuance and trading of new Russian sovereign bonds in Japan, Kishida said.

Japan has condemned the latest Russian move as a violation of the sovereignty and territorial integrity of Ukraine as well as international law. Kishida has stressed the importance of close coordination with other members of the Group of Seven nations in taking a “tough” approach to Russia.