The European Commission has proposed temporarily allowing cooperation with a Chinese semiconductor company listed under the 20th package of sanctions against Russia.
Modern.az reports that Global Banking & Finance Review has published information on this.
According to the proposal, a 9-month exception will be applied to operations with the Chinese company “Yangzhou Yangjie Electronic”. The company will remain on the European Union's sanctions list, but the temporary softening will allow car manufacturers to find alternative chip suppliers and prevent “serious disruptions”.
A representative of the European Commission stated that the company was included in the sanctions list for significantly contributing to strengthening Russia's military capabilities.
“The products of this company have been found in drones and guided bombs used by the Russian army in Ukraine. The goal of our sanctions is to change behavior, and we are trying to find a balance so that they do not have a serious negative impact on the European Union,” the representative noted.
