Ian Bremmer discusses the World In (a little over) 60 Seconds:

The Biden administration announced its first sanctions. How will it affect US-Russia relations?

Not very much. About as bad as they were under the Trump administration, even though Trump personally wanted to be aligned with Putin, the administration was not. This is the same approach on sanctions as we've seen from the European Union, they could go a lot harder. It's not sector level. It's not major state enterprises. It's a few Russian officials that were involved in the chemical program for Russia. And at the end of the day, the Russians are annoyed, but they're not going to hit back. That's that. Okay.