Major chip manufacturer Taiwan is adhering to international export sanctions placed on Russia, said the economy ministry on Sunday, 27 February, as reported by Reuters.
Taiwan is home to the world's largest contract chip maker and Asia's most valuable listed company, TSMC. The company said in a statement last week that it would comply with all export control rules.
However, Taiwan's exports to Russia are minimal.
While Taiwan, claimed by China as its own territory, is not part of most international agreements, it will adhere to the 1996 Wassenaar Arrangement on export controls for weapons and technologies, said the economy ministry. The move is meant to portray its stand against Russia’s invasion of Ukraine.
China has opposed sanctions on Russia.
The Wassenaar Arrangement was signed by 42 countries to scrutinise products sent to Russia but Taiwan is not a signatory to the agreement.
As Russian troops, under orders from President Vladimir Putin, marched into the separatist-controlled areas of Donetsk and Luhansk, the US and the UK among other countries announced the initial wave of sanctions against Russian banks and oligarchs on 22 February.
The US has also placed sanctions on two Russian banks, VEB and Promsvyazbank, and its 42 subsidiaries.
(With inputs from Reuters)
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