News

Taiwan says it has completely stopped supplying machines to Russia

Author:
Liza Brovko
Date:

Taiwan says it has completely stopped supplying machine tools to Russia from March 2024 due to tighter export controls and increased fines.

This was reported by the Taiwanese Ministry of Economy.

Foreign analytical centers investigated the Russian supply chain and found out that Taiwan was one of the five largest suppliers of machine tools to the Russian Federation. After that, since March, the Taiwanese government and industry have cooperated to reduce such supplies to zero.

Taiwanʼs Ministry of Economy also continues to pay more attention to the export of its other strategic high-tech products to Russia. Fines for illegal exports to Russia and Belarus have increased 15 times and now amount to about $32 000.

In order to oblige manufacturers to conduct proper checks on where their products end up, the Ministry of Economy conducts public trainings for them and explains modern methods of such checks.

Taiwan also cooperates with other countries to share export control experience and jointly fight illegal trade.

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