Although the targets have been limited so far, the sanctions have had reach.

Visa will be required to suspend credit card services to a handful of Russian banks on the sanctions list: SMP Bank, Bank Rossiya, InvestCapitalBank and Sobinbank. MasterCard said it would stop servicing cards issued by those banks, though cardholders would be able to withdraw cash.

Tien-Tsin Huang, a J. P. Morgan analyst, estimated that Russia accounted for just 1 percent of revenue at Visa and that the impact of the sanctions this year would be “pennies.” Credit card executives have expressed concerns that Russia might retaliate with its own restrictions on American companies.

Another businessman hit with sanctions, Sergei V. Chemezov — the director general of Rostec, a quasi-governmental organization that oversees high-technology industries, and a longtime member of Mr. Putin’s inner circle — has had extensive dealings with Boeing. A joint venture partly owned by Rostec manufactures about half of the titanium parts used in Boeing aircraft. A regional airline affiliated with Rostec has contracts to buy Boeing jets.

“We are aware of the new sanctions announced on Monday and are reviewing the matter to understand what impact, if any, there may be to our ongoing business and partnerships in the region,” a Boeing spokesman said in a statement.

Image BP’s chief executive, Bob Dudley, left, with Rosneft’s president, Igor I. Sechin, who has been targeted for sanctions. Credit... Olivia Harris/Reuters

But the energy business faces a particularly delicate dance.

Since late 1999, when Mr. Putin began his first term as president, Russia has sought to consolidate its commodity and energy companies under loyal oligarchs or state control. Mr. Sechin, a former officer in the Soviet main military intelligence directorate, or G.R.U., has been a pivotal player.

Players like BP, Exxon Mobil and Shell have spent years building relationships in Russia, promising to transfer technology and capital. Western companies, wanting access to oil deposits, have been eager to make such trades.