Date: March 23, 2022
News Author(s): Andrea Shalal
Photo Credit: Reuters
WASHINGTON (Reuters) - The United States will "absolutely" enforce export controls if Chinese companies send semiconductors to Russia that were made with U.S technology, a move that could "essentially shut them down," Commerce Secretary Gina Raimondo said on Wednesday.
Raimondo doubled down on U.S. threats to punish any company in any country that violated tough export controls that the United States has imposed on Russia over its invasion of Ukraine.
Raimondo said all Chinese semiconductor companies relied on U.S. software to make their chips, which made them subject to controls. "If we find that they are selling chips to Russia, then we can essentially shut them down by denying them use of that software, and we're absolutely prepared to do that," she told Reuters in an interview.
President Joe Biden plans to announce a fresh package of sanctions on Russian political figures and oligarchs during emergency talks this week in Brussels with European and NATO leaders, national security adviser Jake Sullivan said on Wednesday.
The United States and its allies are seeking to ratchet up pressure on Russian President Vladimir Putin to halt the war, which Russia calls a "special military operation."
They are particularly concerned about China's relationship with Russia, its failure to condemn the invasion, and U.S. reports that Beijing is willing to provide military assistance to Moscow - all issues on the agenda during Biden's meetings.
Beijing has described the sanctions imposed on Russia as increasingly outrageous, although it has expressed concern about the war.
Raimondo said the United States was monitoring for possible violations of its sweeping export controls on Russia "hour by hour, minute by minute," and would crack down on any violations by any country as they occurred.
Asked whether Chinese firms were violating the controls so far, Raimondo said no, but noted that Commerce does not disclose investigations or enforcement actions before they are finalized.
The former venture capitalist and Rhode Island governor said Washington expected China to comply because the consequences would be severe and could hit any company, including Chinese semiconductor maker Semiconductor Manufacturing International Corp (SMIC).
Raimondo said she mentioned SMIC in an interview with the New York Times earlier this month as an example of the companies that could be affected, and should have said "XYZ company" instead. But she denied that she was softening the threat.
"I'm not walking that back. I'm very consistent and clear," Raimondo said.
She said the unprecedented breadth of the concerted Western action against Russia could not be lost on Beijing, and noted recent U.S. agreements on steel and aluminum with the European Union, Britain and Japan that are squarely aimed at cracking down on Chinese overcapacity.
"What you're seeing now is really unprecedented levels of cooperation between the U.S. and our like-minded allies," Raimondo said. "I'm sure that China takes notice that America is strong and that our relationship with our partners is stronger than it's been in a long time."
Keywords: sterlinghousetrust.com, Sterling House Trust, SHT
Sterling House Trust is a private trust with a difference. It offers its members an exclusive and reliable platform to access unique opportunities and lifestyle services reserved for the select few. With its team of professional managers Sterling House Trust constantly scans the markets and collaborate with reliable global partners to create a portfolio of carefully curated programmes for its members. Members can access these programmes according to their individual needs, interest and financial capacity. Sterling House Trust is headquartered in Auckland, New Zealand, and has operations based in London, UK.
The Sterling House Trust platform was established with the objective of providing its members, secure access to opportunities across a range of global locations, sectors and services.
Our unique Platform was established within the framework of a trust so that the trust would have oversight and governance over the range of services and its quality. Member protection is a core principle and drive in all that we do. Our trustees ensures that the interests and quality of service provided by the Platform are always maintained at the highest standards.
The trust and its trustees provide robust oversight and is constantly on the move to identify and shortlist select opportunities in the international markets. Likewise, we apply the same stringent standards in identifying and selecting providers and professional partners to join our Platform.
The Sterling House Trust Platform utilises our international footfall and relationships to provide our members with access to a range of international opportunities via our global network which covers a broad range of sectors including:
Asset protection, international property ownership and management, alternative and direct ownership, estate planning, banking services, foreign exchange, card services, alternative investment and lifestyle services.
New Zealand Head Office
31/335 Lincoln Road,
14-16 Dowgate Hill,
England EC4R 2SU