Apple Supplier TSMC Agrees to Join Taiwan in Enforcing Sanctions on Russia

Taiwan is joining the US and other democratic countries in putting sanctions on Russia over the invasion of Ukraine. On the 2nd of March, Taiwanese semiconductor manufacturer TSMC agreed to participate in Taiwan's sanctions on Russia by suspending shipments of materials to Russian entities.

There is no doubt that this action will likely create a backlash from Russia who has strong economic ties with Taiwan. However, as there are still many decisions to be made, it is too early to tell how significant these impacts will be.

 

Taiwan is the latest addition to the list of countries that are putting sanctions on Russia.

Taiwan will join "democratic countries" in putting sanctions on Russia over the invasion of Ukraine. Last month, Taiwan's Foreign Minister David Lee had said that Taiwan would not be joining US and Japan in enforcing sanctions against Russia over its annexation of Crimea

Taiwan has been exporting semiconductor chips to Russia for decades and has also been a big customer of Russian gas. Sanctions from democratic counties could have a negative impact on TSMC, which is one of Taiwan's biggest exporters.

Taiwan is joining the rest of the democratic countries in punishing Russia by implementing a "symbolic" sanction, until they see that they are taking steps to withdraw from Ukraine.

Taiwan's foreign ministry has said that it agreed to join Taiwan on this as a symbolic gesture until Russia withdraws from Ukraine.

Taiwan had been reluctant to punish Russia, a crucial trade partner, but will do so now in accordance with international norms.

Taiwanese companies are fearful of the sanctions Russia has imposed on them as a result of the country's invasion of Ukraine. These sanctions include a ban on holding offshore assets and export restrictions on Russian-made equipment and technology, which would make it hard for Taiwan to compete in the global market under these conditions.

The article mentions "Taiwanese companies are fearful of the sanctions Russia has imposed on them." The article also discusses how trade with Russia is important for Taiwanese economy and if those partnerships were to be taken away, that could have serious consequences for their economy.