The Biden administration on Wednesday warned of additional measures it is preparing in the event Russia escalates the armed conflict in Ukraine, signaling that it is ready to impose a ban on exports of key US technology. for the Russian economy.
The warning came a day after the US announced sanctions on two Russian banks and Russia’s sovereign debt containment, effectively cutting the country off from Western financing. The export controls would represent a significant expansion of the tools the United States is prepared to deploy in response to further aggressive actions by Russian President Putin.
“If he chooses to invade, what we are telling him very directly is that we will cut that off, we will cut him off from the Western technology that is important to the development of his army. To cut him off from Western finance Wally Adeyemo, Deputy Secretary of the Treasury, said on CNBC on Wednesday the resources would be crucial to feeding his economy and also to enriching his people. himself.
The United States is working closely with its European allies in efforts to put pressure on the Russian economy, Adeyemo said. He added that the tools the Biden administration is preparing to deploy are stronger than those used after Russia’s annexation of Crimea in 2014.
The United States has imposed export controls in recent years in response to national security concerns about Chinese telecommunications company Huawei, and introduced restrictions on exports of equipment. defense equipment and some high-tech products to Hong Kong in 2020 after Beijing tightened control of the territory. .
In recent years, Russia has taken steps to strengthen its balance sheet and currency reserves to cushion the impact of international sanctions. However, restrictions on American technology components could harm Russian sectors such as artificial intelligence, quantum computing, and aerospace that rely on manufactured equipment or software. made in the US.
The White House declined to disclose details of what types of US technology exports might be restricted but acknowledged that they were among options being considered.
“Clearly, export control actions would have a significant additional impact on the economy there,” said Jen Psaki, the White House press secretary.
https://www.nytimes.com/2022/02/23/world/europe/the-us-is-preparing-a-ban-on-american-technology-exports-to-russia.html The United States is preparing a ban on the export of American technology to Russia.