The European Union has imposed sanctions on Russian chipmakers
The European Union has announced sanctions against Russian chipmakers. The companies on the list previously suffered from US sanctions in 2014, but now their situation will deteriorate significantly.
Experts predict that the situation around Russian chipmakers could worsen significantly, although their situation was already bad after the US sanctions imposed earlier.
The following companies were subject to restrictive measures:
- JSC Baikal Electronics,
- JSC MCST (developer of Elbrus processors),
- LLC NM-Tech (works based on the plant Angstrom-T),
- as well as STC Module.
Even more restrictions
The new EU measures provide for the extension of the EU Regulation №833 of 31 July 2014 to these companies. This means that European companies are deprived of the opportunity to provide Russian legal entities subject to sanctions with any technological services related to the production of dual-use products, as well as to provide them with financial services, including grants, loans, and credits.
New restrictive measures against Russian chipmakers came after the first wave of sanctions imposed by the US Department of Commerce. Any US company wishing to work with Russian chipmakers is required to seek permission from the US Department of Commerce’s Bureau of Industry and Security (BIS), but the agency will reject all requests by default.
