Key Points
- Taiwan to increase export restrictions to Russia.
- Export of technology to Russia now requires the government’s special permission.
- Taiwan hopes to cut off its chip and tech supply to Russia.
The government of Taiwan stated last Wednesday its decision to increase export restrictions to Russia. The plan is to restrict Russia from gaining access to additional chips and technology to be used in the military.
Taiwan intends on implementing the restrictions to amplify the sanctions on Russia for its violent engagement with Ukraine. Taiwan, like most other countries, frowned upon the situation in Europe and became a part of the “Sanctions effort”. The idea is to symbolize Taiwan’s stand on the Russia-Ukraine crisis.
According to the government, any tech product exported to Russia will have to go through a screening process first. The Taiwan Ministry of Economy has also urged people to be very aware of what they export to Russia. The Ministry expects to prevent Russia from using the tech and chips exported from Taiwan as weapons.
The list of items with export restrictions contains 57 items in total. The Taiwanese company, TSMC, considered the top chip provider in the world, removed Russia from its targeted markets. This cuts off Russia’s access to Elbrus chips, used in the Russian military.
Calculations are conducted to analyze the effect of the export restrictions to the economy of Taiwan. Although, sources claim the difference would be minimal as Taiwan maintained little direct trading with Russia. Asian countries remain anxious about the situation in the western world.
Reference,
https://www.channelnewsasia.com/asia
-Dilshan Rukshana-
