Russia bans 61 Americans – mostly heads of major technology companies

by admin, Wednesday, 8 June 2022 (2 months ago)

According to Russian media reports, the Russian Foreign Ministry recently announced sanctions against 61 American citizens, mainly heads of large American technology companies. AMD President and CEO Lisa Su tops the list. There is a permanent ban on all the names on the list and they can not enter Russia for any reason. The Russian side said the sanctions were imposed “in response to the expanding US sanctions on Russian public figures and representatives of domestic companies.”

Read also: Russia bans exports of inert gases such as neon and solar

Russia

During the Russia-Ukraine conflict, AMD announced in March that it would withdraw from the Russian market and stop shipping products. Although Intel and Nvidia have taken similar steps, the leaders of the two companies are not on the ban list.

Russia is only one country and banning entry to Russia should not be a big deal. However, the Russian side clearly explains that it does not expect it to be a big deal. Russia responds only to US actions on its elites.

The United States believes that most Russian billionaires are “oligarchs.” In fact, many Americans believe that you can not become a billionaire in Russia without ties to the Putin administration. Although this is not entirely true, the US and its allies have banned Russian billionaires and even stopped them or forced them to sell their fortunes. Therefore, it is safe to assume that if an American has a significant investment in Russia, he should simply say goodbye to it.

Russia will exempt import duties on technological equipment

The Russian Prime Minister claims that the country will exempt import duties on technical equipment. In addition, it will simplify the process of importing computers, smartphones and tablets. In April of this year, the The current stock of imported electronic products and components in the Russian retail market can be sold for 8 to 9 months. Due to the embargo on Russia, the country may face a shortage of electronic products this winter.

Domestic distributors of consumer electronics, such as mobile phones and laptops in Russia, have sufficient stock. However, the supply of home appliances and their accessories was relatively limited.

Since the beginning of the crisis between Russia and Ukraine, there have been irregularities in the supply chain. As Ukraine struggles to keep its territories safe from the Russian military, Russia is facing its own problems. There have been many bans and restrictions in Russia. This affects the supply chain in the country and therefore urgent measures are needed. Exemption from import duties on technological equipment is one such measure.

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