Chip Exports To Russia Dives 90% After Curbs

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U.S. Commerce Secretary Gina Raimondo said on Wednesday exports of semiconductors to Russia plunged by 90% as a result of the U.S. and its sanctioning of Moscow over its invasion of Ukraine.

“Russia may be forced to ground between half and two-thirds of its commercial aircraft in the next four years in order to cannibalize them for spare parts,” she said.

The statement came a day after the White House added five Chinese companies to a trade blacklist on Tuesday for allegedly aiding Russia’s military and defense industrial base, flexing its muscle to enforce curbs against Russia.

The United States has rallied its allies to sanction Russia for the invasion, which Moscow calls a “special operation”, by sanctioning various Russian firms and oligarchs and blacklisting other companies.

On Wednesday, Raimondo also echoed calls to “shut down” China’s top chip manufacturer SMIC should it be found supplying chips to Russia.

“What if SMIC or other Chinese-based semiconductor companies are found supplying chips to Russia? We will shut them down and we can, because almost every chip in the world and in China is made using U.S. equipment and software and I intend to make good on that commitment if it’s necessary, ” she said. 

For more information, read the original story in Reuters.

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