AUSTIN (KXAN) — The White House unleashed a new round of economic sanctions against Russia on Thursday, in an effort to stop the Kremlin invasion.
They said the unprecedented measures have cut off more than half of Russia’s high-tech imports, restricting things like semiconductors, encryption security and lasers that are expected to cripple Russia’s industrial base.
The U.S. semiconductor industry said Thursday it was committed to following new White House rules against Russia.
We are always reviewing new rules to determine their impact on our industry. Although the impact of the new rules on Russia could be significant, Russia is not a significant direct consumer of semiconductors, accounting for less than 0.1% of global chip purchases, according to the World Semiconductor Trade organization. Statistics (WSTS).
Semiconductor Industry Association
The United States also imports raw materials from Russia.
According to the Office of the U.S. Trade Representative, top import categories in 2019 included mineral fuels, precious metals and stones (platinum), iron and steel.
Edward Anderson, a supply chain expert and professor at the University of Texas at Austin, said a disruption in platinum and silver trade could affect Austin.
“[They are] used to make the contacts within semiconductors and also from semiconductors to printed circuit boards,” said Anderson, Wright Centennial Professor for Management of Innovative Technologies at UT’s McCombs School of Business.
Still, the Semiconductor Industry Association said it has “a diverse set of suppliers of key materials and gases, so we don’t believe there are any immediate supply disruption risks related to Russia and the US.” Ukraine”.
Anderson said a much bigger concern is China, which here deals with minerals like lithium for electric cars.
“As far as Tesla is concerned, if China gets involved and cuts lithium or rare earth shipments to us, it will end up shutting down all electric vehicle factories in the United States,” Anderson said.
China did not condemn Russia’s attack on Ukraine.
“They’re doing something, but I don’t believe in these sanctions,” said Kamila Bazadze, a protester who joined a crowd Thursday at the Texas Capitol to voice her opposition to Russia. “They don’t work. They just don’t work.
She was unsure whether to go to Thursday’s rally, but hopes their call will be heard for world leaders to do more to stop Russia.
“I’m too depressed, I’m too scared, I’m too shocked, I, I don’t want to go out. But then it’s like the least we can do, just support our people,” Bazadze said.
The president made it clear that the United States would not attack Russia militarily.