Fear of Penalties influence China. toSome Chinese high-tech companies (including Xiaomi and Lenovo) are quietly withdrawing from the Russian market, and therefore are under pressure from American suppliers. Beijing does not appreciate: companies have repeatedly called for resistance to Western coercion. The Wall Street Journal reveals what is happening in the trade exchanges.
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Chinese companies withdraw from Russia and US pressure
“With no official announcements, deliveries to Russia are cut short, with Chinese tech companies leading the market for many goods“, states the Wall Street Journal. According to the American newspaper, in late March, the head of the US Department of Commerce announced, Gina Raimondo has warned that the United States will stop providing its programs to Chinese companies if it continues to supply Russia with semiconductors while evading US sanctions..
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Sources: Chinese tech companies such as Lenovo and Xiaomi are quietly withdrawing from Russia; Chinese technology exports to Russia fell sharply from February to March (Tweet embed / The Wall Street Journal)https://t.co/2dOAdk1eExhttps://t.co/t4fq2EZPU1
– Techmeme (@Techmeme) May 6 2022
A step back from Lenovo and Xiaomi
In recent weeks, Xiaomi smartphones have not been delivered to Russia. Data from suppliers, logistics companies, and market researchers also indicates that Lenovo halted deliveries to Russia shortly after the Ukraine crisis began. However, some stocks of merchandise are still available. But not all Chinese companies leave the Russian market without official announcements. At the end of April, the DJI drone manufacturer announced a temporary suspension of operations in Russia and Ukraine.
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