Home TECHNOLOGY GADGETS US imposes sanctions on Russian tech and gadget companies

US imposes sanctions on Russian tech and gadget companies

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US imposes sanctions on Russian tech and gadget companies
US imposes sanctions on Russian tech and gadget companies

Mykhailo Fedorov, Ukraine’s Deputy Prime Minister, has urged Apple to reduce its exports to Russia. Mykhailo Fedorov has written to Apple CEO Tim Cook, requesting that the company’s products be removed from the Apple Store in Russia. Mykhailo Fedorov also serves as Ukraine’s Minister of Digital Transformation. Fedorov also posted a copy of the letter sent to Cook on Twitter, though Apple has yet to respond.

‘I am deeply concerned about the situation in Ukraine,’ Team Cook said in one of his tweets. We are doing everything we can to support our teams there, as well as local humanitarian efforts. I’m thinking of those who are currently in danger, and I’m joining the chorus of voices calling for peace.

The United States has imposed sanctions on Russia’s exports.

Following Russia’s invasion of Ukraine, the United States has banned the export of its goods to Russia. The United States has also imposed a ban on Russian-branded products that are manufactured in the United States. This ban could cost American businesses a lot of money.

Under US trade law, the US has imposed these sanctions. To sell computers, sensors, lasers, navigation equipment, telecommunications, aerospace, and marine equipment to Russia, US companies must now obtain licences. A similar ban was imposed by the US on Huawei, a Chinese company, a few years ago, which caused significant damage to Huawei.

What is the extent to which this sanction will harm Russia?

Many companies may decide not to sell to Russia at all, according to legal experts. According to Dan Goren, a partner at Wiggins & Dana, a client who manufactures electronic equipment only sent a shipment to a Russian distributor on Thursday. Let us tell you that last year, American exports to Russia totaled $6.4 billion.

Although the US embargo may not be hurting Russia much at the moment, the way the UK, Canada, Japan, Australia, and New Zealand are banning Russian exports will undoubtedly hurt Russia.

Russia is not a significant direct consumer of semiconductors, according to the Semiconductor Industry Association (SIA), which represents US chipmakers. Russia spends $25 billion on semiconductors, while its global market is worth a trillion dollars.