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U.S. Targets Russian Chipmaker in Fresh Round of Sanctions

  • Treasury Department says it is hitting Russia’s ‘war machine’
  • Chipmaker Mikron helped facilitate Russia’s Mir payment system
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Have Sanctions Against Russia Ever Worked?
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The U.S. announced new sanctions on Russia’s economy, targeting what it said was Russia’s biggest chipmaker and largest exporter of microelectronics, as the Biden administration pledges to keep raising the pressure on Moscow over the war in Ukraine.

Joint Stock Company Mikron, which the Treasury Department said is a critical Russian chipmaker as well as a key manufacturer of integrated circuits and electronic components, was one of 21 entities and 13 individuals hit with penalties on Thursday. Mikron also produces the domestic chip used for Russia’s National Payment Card System, known as Mir, Treasury said.