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Russian Technology Sector Targeted by US Sanctions
April 8, 2022 – The U.S. Department of Treasury recently issued a new round of sanctions on the Russian Federation in response to its invasion of Ukraine, this time targeting the Russian technology sector.
This new round of sanctions targets 21 business entities and 13 individuals, most notably, Joint Stock Company Mikron (Mikron Group), Russia’s largest chipmaker and manufacturer and exporter of microelectronics.
The U.S. has made it clear it is intent on taking down Russia’s “malicious cyber actors” and stopping the support to President Vladimir Putin’s invasion of Ukraine.
Which Products Are Affected?
These sanctions affect several sectors of production, including computer hardware, software, semiconductors and microelectronics.
The U.S. Treasury Department also expanded authorities under the existing Executive Order to include three additional sectors of the Russian economy: aerospace, marine, and electronics. This would allow the U.S. to impose penalties on any person or entity determined to operate in those sectors.
These new actions freeze any U.S. assets of those targeted and effectively ban any U.S. citizens or businesses from conducting business with them.
Besides Mikron Group, the following entities were affected by the sanctions:
| Targeted Entities | Business Area |
|---|---|
| AO NII-Vektor | Software & Communications Firm |
| T-Platforms | Supercomputer & Hardware Firm |
| Molecular Electronics Research Institute | Micro/Nani electronics & semiconductor research & development |
| Serniya Engineering / Sertal | Equipment Manufacturing/Procurement |
Stay Aware of Events Impacting Supply Chain
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