Roman Abramovich was disqualified from running the English Premier League Club by the league's board after the government imposed an asset freeze and travel ban on the oligarch.
Mr Abramovich was one of seven wealthy Russians targeted by the UK government in a further round of sanctions last week, which involved asset freezes, travel bans and an embargo on transactions with UK individuals and businesses.
Australia's latest round of sanctions also include more than 30 Russian oligarchs, prominent business people and immediate family members.
The new sanctions cover the CEO of multinational energy corporation Gazprom, the chair of Russian defence conglomerate Rostec, the head of state-controlled oil pipeline company Transneft, the chairman of a development bank and the CEO of an investment fund.
"The sanctions reinforce Australia's commitment to sanction those people who have amassed vast personal wealth and are of economic and strategic significance to Russia," Foreign Minister Marise Payne said.
"Many of these oligarchs have facilitated, or directly benefited, from the Kremlin's illegal and indefensible actions in Ukraine since 2014."
Ukraine's top diplomat in Australia accused Russia of instigating genocide as tanks deliberately target residential buildings.
Charge d'Affaires Volodymyr Shalkivskyi says fleeing through humanitarian corridors being offered by Russia has become risky because troops do not always honour the safe passage.
"We would like everyone who is on our side to send a strong message to Moscow that this kind of atrocity in the 21st century is not possible and Russia will pay the price," he told Adelaide radio station 5AA.
"We are determined to defend our country. There are no indications so far we can find compromise regarding peaceful resolution."
Thousands of troops and civilians have been killed by Russian forces, including 85 children ranging from three months to 16 years old, the envoy said.
"This is genocide because hitting residential areas is a clear sign of genocide. Russia means to take out Ukrainian ethnicity from the map," Mr Shalkivskyi said.
"They would like to integrate Ukrainians into Russia without allowing us to have our culture, our language and our history."
Prime Minister Scott Morrison has spoken to his Dutch counterpart Mark Rutte about Russian sanctions, military and humanitarian support for Ukraine as well as implications for the Indo-Pacific region.
Mr Morrison also said the two countries would continue to pursue accountability for MH17, which was shot down over eastern Ukraine by Russian separatists in 2014.
"We owe it to the victims," Mr Rutte said on Twitter following the phone call.
It comes as Russian missiles killed at least 35 people and injured a further 134 at a Ukrainian base just 25 kilometres from the border of NATO member Poland.
Russia's defence ministry said 180 "foreign mercenaries" had been killed and a large amount of "foreign weapons" had been destroyed in the air strike.
Ukrainian media has reported that while the military had trained at the base in the lead up to the February 24 invasion, all foreign instructors had left in mid-February but left equipment behind.
Russia says convoys of arms shipments from Western countries could become legitimate targets as it ramps up its invasion of Ukraine continues for a third week.
Ukrainian President Volodymyr Zelensky used the air strike to again call on NATO to enforce a no fly zone in the besieged country, warning inaction would see Russian missiles strike NATO territory.
"If you do not close our sky, it is only a matter of time before Russian missiles fall on your territory, on NATO territory, on the homes of NATO citizens," Mr Zelensky said in a video address
Russian troops also reportedly shot and killed a US journalist and injured a second near Irpin, outside the capital Kyiv.
with Reuters
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