The U.S. is imposing new sanctions on Russia in response to its actions in Ukraine, President Obama announced Monday. 

The new round of sanctions will be levied against individuals and corporations who have close relationships with Russian President Vladimir Putin. 

According to a statement by White House press secretary Jay Carney, seven Russian government officials — including two of Putin's close advisers — will be subject to an asset freeze and a U.S. visa ban. In addition, 17 companies will also undergo an asset freeze, USA Today reports. 

U.S. Department of Commerce will also impose more sanctions on 13 of those companies by issuing a license requirement "with a presumption of denial for the export, re-export or other foreign transfer of U.S.-origin items to the companies," Carney said. 

Additionally, there will be a stricter policy imposed in which export license applications will be denied for any high-technology items that could add to Russia's military power. The Commerce and State Department will also nullify any any current export licenses that currently meet those conditions. 

"The goal here is not to go after Mr. Putin personally," Obama said in Manilla on Monday at a news conference. "The goal is to change his calculus with respect to how the current actions that he's engaging in could have an adverse impact on the Russian economy over the long haul."

Yet, some believe that the U.S. strategy to incrementally increase sanctions is not enough. Former Russian Prime Minister Mikhail Kasyanov said last week that the U.S. and the European Union should sanction at least 598 of the 605 members of Russia's parliament who voted to annex Crimea and agreed to let Putin send Russian military troops into Ukraine. 

He added that "business people" who "are special tools in Putin's hands" should be sanctioned. 

But Anders Aslund, a senior fellow at the Peterson Institute of International Economics in Washington, said sanctioning 17 companies is too extreme. 

"The power is enormously concentrated in Russia," he said. "You want people who have the opportunity to say no to the top. If you sanction everybody, you unite the country."

Last week, the State Department said they would impose new sanctions after coming to the conclusion that Russia did not live up to its commitments in an accord that was meant to quell the crisis in Ukraine.

The accord, which was reached in Geneva, called on the Kremlin to stop Russian insurgents from occupying Ukrainian government buildings. Instead, Russia amped up their military and even kidnapped European military observers. 

The U.S. did not implement the new sanctions because it wanted to coordinate actions with the European Union, which is also set to announce new sanctions Monday.