A series of Chinese technology companies withdrew from Russia
Chinese technology companies are leaving Russia amid sanctions imposed by the international community in the country.
Technology corporations such as Lenovo Group Ltd. and Xiaomi Corp. are restricting shipments to Russia as sanctions have made it difficult for them to finance their operations in the country.
In addition, some Chinese companies have avoided publicizing their reasons for withdrawing business from Russia, after the Chinese government said businesses must fight against Western sanctions.
In April, China’s Ministry of Commerce told companies that “must not submit to external coercion and make inappropriate external statements”,
SZ DJI Technology Co. is one of the few Chinese companies that has said it will stop doing business in Russia and Ukraine until further notice. After the military crisis broke out in Ukraine, there was an emigration of Western companies condemning Russia’s military campaign.
This makes it difficult for Chinese companies, as China is one of the few countries that sided with Russia. China maintains a neutral position amid escalating tensions, while condemning the West’s isolation from Russia.
The Wall Street Journal highlighted that US chip companies threatened not to supply Chinese partners if they did not comply with international sanctions. Therefore, Chinese enterprises have no choice but to follow.
Thai Hoang (according to The Hill)
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