Western officials from the US, Germany, and the UK, including Joe Biden and Annalena Baerbock, have claimed that the sanctions are on track to cut the Russian economy in half.
The sanctions have been in place since Russia's invasion of Ukraine.
EU sanctions are believed to be working to cripple Putin's ability to finance his war machine, according to European Commission President Ursula von der Leyen.
However, some experts have suggested that the sanctions may have unintended consequences, such as pushing Russia closer to China and creating a vulnerability for the Western energy market by undermining energy ties between Russia and Europe.
Russia has also pushed back against the sanctions, with Putin denouncing them as "harmful" and suggesting that they are designed to weaken Russia.
Additionally, some have noted that while the sanctions have taken a toll on the economy, they have not deterred Russia's actions in Ukraine and may have even emboldened it.
In summary, while Western officials believe that sanctions against Russia are targeting Putin's power base and weakening the economy, there are concerns about unintended consequences and the effectiveness of the sanctions in deterring Russia's actions.