US sanctions have tanked Russian semi-chip imports from China and Hong Kong, new data shows

Mon, 07/22/2024 - 15:16

Xi, Putin — Russian President Vladimir Putin and Chinese President Xi Jinping enter the hall for Russian-Chinese talks on May 16, 2024 in Beijing, China. Russian President Putin is on a two-day visit to China.
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Illicit Russian semiconductor imports have fallen this year, Reuters reported.
So-called transshipments bypass US sanctions by first exporting illicit goods to an secondary destination.
Transshipments through Hong Kong fell 28%, and 19% through mainland China, Commerce Department data shows.

Chinese trade flows of restricted technology into Russia have wavered this year, with semiconductor imports losing ground amid US sanctions, Reuters reported.