European and American Export Controls Hit Russian Manufacturing Industry

On Wednesday, “Thirty-three countries have joined together with one export control strategy,” said Thea Kendler, assistant secretary for export administration at the Commerce Department. This led to the suspension of Russian car and tank production plants and the breakdown of the chip supply chain.About five percent of Russia’s imports come from the United States and 50 percent from the European Union and other countries in the coalition involved in sanctions. After the sanctions were imposed, two major Russian tank factories and Lada car manufacture have stopped production due to the lack of foreign parts. In addition, the supply of chips widely used in Russian intelligence and military systems have been disrupted in the Russian market as a result of the withdrawal of the world’s largest chipmaker, TSMC.

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