Team Cook said in one of his tweets, ‘I am deeply concerned about the situation in Ukraine. We are doing everything possible for our teams there and will support local humanitarian efforts. I am thinking of those who are in harm’s way right now and joining all those who are calling for peace.
US imposes sanctions on Russia’s exports
After Russia’s attack on Ukraine, America has banned the export of its products to Russia. The US has also imposed this ban on those products whose brands are of Russia, but the production is done in America. This ban can cause huge losses to American companies.
The US has imposed these sanctions under US trade law. US companies now must obtain licenses to sell computers, sensors, lasers, navigation equipment, and telecommunications, aerospace, and marine equipment to Russia. The US had imposed a similar ban on the Chinese company Huawei a few years ago, which caused a lot of damage to Huawei.
How much will this sanction hurt Russia?
According to legal experts, many companies may choose not to sell to Russia at all. Dan Goren, a partner at law firm Wiggins & Dana, said a client who made electronic equipment shipped a shipment to a Russian distributor only on Thursday. Let us tell you that exports from America to Russia were up to about $ 6.4 billion last year.
This US embargo technically may not hurt Russia much at the moment, but the way Britain, Canada, Japan, Australia and New Zealand are banning Russian exports, it can definitely cause huge damage to Russia.
The Semiconductor Industry Association (SIA), which represents US chipmakers, has said that Russia is not a significant direct consumer of semiconductors. Russia’s total spending on semiconductor use is $25 billion, while its global market is worth a trillion dollars.