Chip manufacturer TSMC abides by export restrictions to Russia

Taiwanese chip maker Taiwan Semiconductor Manufacturing Company (TSMC) said it will fully comply with new export rules to Russia. The company is doing so after the Taiwanese government said it would join international sanctions imposed on Russia over the invasion of Ukraine.

“TSMC complies with all applicable laws and regulations and is fully committed to complying with the newly announced export regulations,” the company said in a statement.

The world’s largest computer chip maker, which is also a major supplier to iPhone maker Apple, said it had a “strict” system of export controls in place. This includes an assessment process to verify compliance with export restrictions.

Taiwan’s Economy Minister Wang Mei-hwa said Thursday that the island will “decisively study” exports of materials to Russia and “coordinate” further actions with allies. It was not immediately clear who these allies were. The Taiwanese foreign ministry has already spoken of “close coordination” with the United States, among other things, about measures to help Ukraine.

Russia and Ukraine are not the main markets for Taiwan. Government data indicates that trade between Taiwan, Ukraine and Russia accounts for about 1 percent of the country’s total trade.