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.
- A February 2024 investigation by The Washington Post alleged that Russian company I Machine Technology, which is a supplier to weapons manufacturers, imported $20 million worth of equipment from Taiwan. The largest client of I Machine Technology last year was the Moscow Machine-Building Plant "Avangard" — a supplier of missiles for S-400 air defense systems. After the investigation, Taiwan imposed sanctions against the Russian company I Machine, and also ordered local companies to sever ties with Russian companies and comply with the ban on the supply of high-tech equipment to the Russian Federation.
For more news and in-depth stories from Ukraine please follow us on X.