Taiwan increases fines for transferring sanctioned goods to Russia 15 times
Photo: Taiwan increased fines 15 times for transferring workbenches to Russia (Getty Images)
Taiwan is tightening export control of sanctioned goods to Russia. Fines for transferring technologies, metalworking machines, and other goods have increased 15 times, according to Focus Taiwan.
On February 2, the Ministry of Economy in Taiwan announced that it has strengthened export controls on goods to prevent their use by Russia in the war against Ukraine.
"In addition, the penalty for first-time violations of exporting to Russia has been increased by over 15 times to NT$1 million (US$32,055)," noted the department.
The Taiwanese authorities also plan to enhance control over the supply of Taiwanese technologies to Russia and Belarus through third countries, including Turkey and the United Arab Emirates.
Additionally, the Ministry of Economic Affairs in Taiwan has added the Russian company iMachine to the list of sanctioned entities, bringing the total to nearly 1900 entities.
What preceded it
This move follows reports that Taiwan has become a significant supplier of metalworking machines to Russia amid the ongoing conflict in Ukraine. These machines are crucial for the production of weaponry. Previously, Germany, Japan, and Switzerland supplied these machines to Russia, but they withdrew from the market, and Chinese machines were deemed insufficient in quality.
