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Anti-Russian sanctions

US actions to disrupt semiconductor supply chains are destructive — Russian Ministry

Illegitimate unilateral trade restrictions used by the collective West against Russia became an individual item on the agenda, the press service of the Russian Ministry of Economic Development says

MOSCOW, July 7. /TASS/. Russia and China called US actions aimed at ruining semiconductor and electronic component trading chains as destructive, the press service of the Russian Ministry of Economic Development said in conclusion of the meeting of the WTO Council on Trade in Goods.

"The Russian delegation also sided during the meeting with the China’s criticism against the US on the destructive action of this country, aimed at disintegrating semiconductor and electronic component trading chains and at implementing the protectionist policy within the framework of the Inflation Reduction Act," the Ministry said. In the opinion of Russian representatives, Washington’s actions aimed at excluding individual WTO members from the participation in value-added chains, provoking the fragmentation of the multilateral trade system, and destabilizing trade and investment flows.

Illegitimate unilateral trade restrictions used by the collective West against Russia became an individual item on the agenda, the ministry added. When introducing restrictions against the Russian fuel and energy sector, the West uses the energy demand as a "political weapon," which leads to rupturing of historical chains of added value creation, redistribution of global energy flows and higher transaction costs, it noted.

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