Appearing on Russia’s Evening Urgant talk show earlier this month, Tarpischev referred to the talented sisters as "Williams brothers".
"I thought [his comments] were very insensitive and extremely sexist as well as racist at the same time," Serena said at a press conference before the beginning of the WTA Finals in Singapore. "I thought they were in a way bullying."
The Women's Tennis Association fined Tarpischev $25,000 and suspended him for one year.
"I think the WTA did a great job of taking [the] initiative and taking immediate action to his comments," Serena said. "In 2014, for someone with his power, it's really unacceptable to make such bullying remarks."
Tarpischev later released a statement saying his comments were "taken out of humorous context" when translated and were not intended to cause offence.
"I am sorry that the joke I made, when translated into English, was taken out of the context of a chat show and so much attention has been brought towards it," he said.