U.S. Slaps Broad Restrictions on Russia Imports Over Ukraine
- Commerce Department adds two new foreign direct product rules
- Measures meant to target Russia’s defense, aerospace sectors
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The Biden administration announced sweeping restrictions to deny Russia access to products based on U.S. technology, as well as those that can be used for military purposes, in response to its invasion of Ukraine.
President Joe Biden is creating two new so-called foreign direct product rules for Russia and the Russian military, limiting access to goods and parts made by non-U.S. companies using American inputs and design, the Commerce Department said in a statement on Thursday. The rule has been used against Huawei Technologies Co. to restrict use of Taiwan Semiconductor Manufacturing Co. and others to make chips.