Russia imports 100-billion-yen US semiconductors - a hole in sanctions, 70% via China (1/2)

Recently NHK News on-line reported the following:

ロシアが米半導体輸入1000億円　制裁に穴、中国経由7割 (1/2)

2023年4月12日 4:05 [有料会員限定]

米国メーカーの半導体が米制裁を回避してロシアに流れている。ロシアのウクライナ侵攻以降の輸入データを日本経済新聞が分析したところ、インテルなど米社名が記された半導体の高額取引が2300件以上あり、少なくとも7.4億ドル（約1000億円）分が流入していた。輸出元の4分の3は香港を含む中国だった。半導体の輸出規制はロシアの武器製造に歯止めをかける重要施策で、抜け穴をふさぐ追加の手立てが必要だ。

ロシアがウクライナに侵攻した2022年2月、米国は米半導体のロシアへの輸出を人道目的などを除いて禁じた。違反すれば第三国の企業も米企業との取引禁止などの制裁を受ける。半導体はミサイルや軍用機の基幹部品で、高機能品は米メーカーが高いシェアを持つ。流通網の遮断でロシアの戦力低下を狙った。

しかし、米国の半導体は迂回ルートでロシアに流れ続けていた。

取引規模は侵攻前の3倍に

日経と英字媒体「Nikkei Asia」はインドの調査会社エクスポートジーニアスからロシアの通関データを23年1月27日に入手し、22年2月24日〜同12月31日の半導体輸入記録を調べた。1回10万ドル以上の高額取引は3292件あり、約7割の2358件に製造元として米社名が記されていた。米半導体の輸入額は7.4億ドル以上で、侵攻前（約2.7億ドル）の3倍近くに増えた。

流通経路で際立ったのは香港を含む中国だ。米半導体取引の75%の1774件、5.7億ドル分が輸出されていた。取引業者の多くは中小企業で、侵攻後に設立された新興企業もあった。

前年同期間の中国からの米半導体高額輸出は230件（米半導体取引の21%）。取引額は5123万ドルで、侵攻後、10倍以上に膨らんだ。世界約400の金融機関などが加盟する国際金融協会（IIF）はロシアの22年1〜9月の半導体・電子回路の輸入額が前年同期比36%増えたと指摘する。

(to be continued)

Translation

Semiconductors from US manufacturers were circumventing US sanctions and flowing to Russia. According to Nihon Keizai Shimbun's analysis of import data after Russia's invasion of Ukraine, there were more than 2,300 high-value transactions of semiconductors bearing the names of US companies such as Intel, with at least $740 million (approximately 100 billion yen) flowing into that country. Three-quarters of the exports were from China, including Hong Kong. Semiconductor export controls were a key measure to put a brake on Russia's arms production, and additional measures were needed to close the loophole.

In February 2022, when Russia invaded Ukraine, the United States banned the export of US semiconductors to Russia, except for humanitarian purposes. Companies in third countries that violate the law would also be subject to sanctions, including a ban on doing business with US companies. Semiconductors were the core parts of missiles and military aircraft, and US manufacturers had a large share of high-performance products. The sanctions aimed at reducing Russia's military strength by cutting off the distribution network.

However, US semiconductors continued to flow to Russia through detouring routes.

Transaction size tripled from pre-invasion

Nikkei and English-language media Nikkei Asia obtained Russian customs clearance data from Indian research firm Export Genius on January 27^th 2023, and examined semiconductor import records from February 24, 2022 to December 31, 2022.  There were 3,292 high-value transactions of $100,000 or more at one time, and 2,358 transactions, or about 70%, listed the name of a US company as the manufacturer. US semiconductor imports amounted to more than $740 million, nearly triple the amount before the invasion (about $270 million).

China, including Hong Kong, stood out in terms of distribution routes. 1,774 transactions, or 75% of US semiconductor transactions with a value of 570 million dollars were exported. Many of the traders were small businesses, some of which were start-ups established after the invasion.

During the same period last year, there were 230 large-value exports of US semiconductors from China (21% of US semiconductor transactions). After the invasion the transaction value was $51.23 million, a more than ten times increase. The Institute of International Finance (IIF), which included about 400 financial institutions around the world, pointed out that Russia's imports of semiconductors and electronic circuits from January to September 2022 increased by 36% year-on-year.

(to be continued)