MOEA Reminds Exporters to Beware of the Russia-Ukraine Conflict and Business Risk

2022-03-01

As Russia's invasion of Ukraine continues to escalate, many countries have implemented economic sanctions, including export controls against Russia, and Taiwan will act accordingly. MOEA has included the commodities regulated by the Wassenaar Arrangement on its export control list for Strategic High-Tech Commodities (SHTC) pursuant to the Foreign Trade Act. The export license of SHTC to Russia will be subject to strict examination and review.

The restrictive measures taken by other countries against Russia not only consist of export control measures but also financial sanctions, which may affect foreign exchange clearances. MOEA advises industries to closely monitor the development of international relations and conduct business with Russia prudently in order to prevent unanticipated losses.

CTR:469