Tag: Embargoes and Sanctions

China’s Economic Support for Russia Could Elicit More Sanctions

Chin@Strategy

WASHINGTON — President Biden and his top officials vowed this week to introduce additional sanctions aimed at impeding Russia’s war efforts against Ukraine. But the administration’s focus is increasingly shifting to the role that China has played in supplying Russia with goods that have both civilian and military uses. As one of the world’s biggest manufacturers of products like electronics, drones and vehicle parts, China has proved to be a particularly crucial economic partner for Russia. Beijing has remained officially unaligned in the war. Yet China, along with countries like…

China’s Courtship of European Powers Hits a Russian Wall

Chin@Strategy

China’s top diplomat, Wang Yi, has been on a high-stakes tour of Europe, defending his country’s interests in a clash with Secretary of State Antony J. Blinken and reaffirming Beijing’s friendship with Russia with a visit to Moscow. But China is also trying to woo European nations in an urgent bid to revive its economy and to find common ground with some of Washington’s staunchest allies in the region. Mr. Wang promised the leaders of France and Germany that Beijing wanted to “fully restart exchanges” and increase cooperation on issues…

China Says U.S. Flew Balloons Over Xinjiang and Tibet

Chin@Strategy

China accused the United States on Wednesday of flying high-altitude balloons over the western Chinese regions of Xinjiang and Tibet, pointing the finger at Washington amid growing scrutiny over Beijing’s global surveillance efforts. China’s claim comes two days after it first accused the United States of illegally flying balloons in its airspace, saying American airships had flown over China more than 10 times since the beginning of 2022. The United States denied the claim. In another apparent tit-for-tat move, China said it would “take countermeasures” against “relevant American entities” in…

How Russia Is Surviving the Tightening Grip on Its Oil Revenue

Chin@Strategy

Using customs data from India, Mr. Vakulenko, the Russian oil expert, showed that local importers of Russian crude paid almost the same price as Brent crude. A New York Times analysis of the same data produced similar results. The explanation, Mr. Vakulenko suggested, is that at least part of the large discount on the quoted Urals price had been pocketed by Russian exporters and intermediaries, who then charged a higher price to the buyers in India. This revenue will not accrue directly to the Russian government in taxes, said Tatiana…

Russia Sidesteps Western Punishments, With Help From Friends

Chin@Strategy

WASHINGTON — A strange thing happened with smartphones in Armenia last summer. Shipments from other parts of the world into the tiny former Soviet republic began to balloon to more than 10 times the value of phone imports in previous months. At the same time, Armenia recorded an explosion in its exports of smartphones to a beleaguered ally: Russia. The trend, which was repeated for washing machines, computer chips and other products in a handful of other Asian countries last year, provides evidence of some of the new lifelines that…

Bans on TikTok Gain Momentum in Washington and States

Chin@Strategy

The Biden administration has negotiated with TikTok for two years to resolve the government’s concerns that the popular Chinese-owned video app poses a national security risk. But as talks drag on, state and federal lawmakers have become impatient and taken matters into their own hands. In the past several weeks, at least 14 states have banned TikTok on government-issued devices. In Congress, lawmakers are expected to vote this week on a sweeping spending bill that includes a ban of TikTok on all federal government devices. A separate bipartisan bill, which…

Oil Prices Slide as Investors Worry Energy Demand Is Slowing

Chin@Strategy

HOUSTON — Saudi Arabia is slashing oil exports. U.S. crude oil in storage is dropping. Members of the European Union will soon sharply reduce how much fuel they buy from Russia. Those developments would normally send oil prices sharply higher. Yet oil prices have been sliding. The U.S. benchmark, West Texas Intermediate, fell to about $80 a barrel on Friday from more than $90 at the start of the month. The global supply of oil appears to be falling, but many oil traders think that demand is heading down even…

Chip Makers, Once in High Demand, Confront Sudden Challenges

Chin@Strategy

A few months ago, makers of computer chips seemed on top of the world. Customers could not get enough of the small slices of silicon, which act as the brains of computers and are needed in just about every device with an on-off switch. Demand was so strong — and U.S. dependence on a foreign manufacturer so worrying — that Democrats and Republicans agreed in July on a $52 billion subsidy package that included grants to build new chip factories in America. U.S. chip makers such as Intel, Micron Technology,…

Biden Just Clobbered China’s Chip Industry

Chin@Strategy

Semiconductors are among the most intricate tools that human beings have ever invented. They are also among the most expensive to make. The latest chips — the sort that power supercomputers and high-end smartphones — are densely packed with transistors so small they’re measured in nanometers. Perhaps the only things more ingenious than the chips themselves are the machines that are used to build them. These devices are capable of working on almost unimaginably tiny scales, a fraction of the size of most viruses. Some of the chip-building machines take…

Biden’s Tough Tech Trade Restrictions on China

Chin@Strategy

Stop me if you’ve heard this one before: We’re now engaged in a trade war with China. Actually, you probably haven’t heard this one before. I’m not talking about Donald Trump’s clumsy tariffs aimed at reducing America’s trade deficit. I’m talking instead about the sweeping new controls the Biden administration imposed last Friday on exports of technology to China — controls meant to constrain other advanced countries as well as the United States. Unlike the Trump tariffs, these controls have a clear goal: to prevent or at least delay Beijing’s…