FT News Briefing Russian business hit by tech sanctions
Jun 2, 2022
Western tech sanctions are turning Russian businesses into relics, crippling supply chains for essential tech like semiconductors. Meanwhile, the U.S. aims to stall Russia's progression in Ukraine while managing the risks of escalating conflict. Back in the UK, pint prices have skyrocketed post-pandemic, now exceeding eight pounds in some pubs, prompting discussions among listeners about how they've adapted their spending habits in response to inflation.
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Russian Tech Sector Under Pressure
- Western sanctions on technology are significantly impacting Russian businesses, especially in the tech sector.
- This impact is causing bottlenecks in semiconductors, electrical equipment, and hardware, forcing scaled-back plans and hindering future development.
Russia's Dependence on Foreign Tech
- Russia's inability to ban YouTube exemplifies its reliance on imported tech components for censorship infrastructure.
- The lack of domestic production leaves them vulnerable and dependent on external suppliers.
Devastating Impact of Tech Sanctions
- Technology sanctions, cutting off crucial imports like microchips, might be the most devastating for Russia.
- This could cause a regression from a tech-savvy nation to a technologically backward one.