News
Taiwan's Ministry of Economic Affairs has imposed sanctions on the Russian company I Machine, which came under scrutiny in the investigation by The Insider and The Reporter for supplying Taiwanese machine tools to Russia's military-industrial complex. According to the official statement on the ministry's website, Taiwanese businesses are now prohibited from supplying their products to I Machine.
The statement emphasizes that these measures have been taken to control the production of weaponry and safeguard the reputation of Taiwanese companies, a crucial factor for “future global sales.” Currently, Taiwan's sanctions list includes approximately 1900 organizations associated with Russia.
The government of Taiwan has ordered manufacturers to sever ties with Russian buyers and adhere to the ban on supplying high-tech goods to Russia. Suppliers are mandated to identify the ultimate buyer when exporting through countries with high risks of re-export to Russia or Belarus, including Turkey, the UAE, Central Asian states, and others. The Ministry of Economic Affairs has increased penalties for illegal exports to Russia by 15 times, now amounting to 1 million yuan ($32,000).
As highlighted in The Insider's investigation published at the end of January, Taiwan, officially supporting Ukraine, has become a significant supplier of metalworking machines to Russia, filling the void left by departing European manufacturers in the Russian market. Despite the prohibitions imposed by Taiwanese authorities, the products were still exported through third countries.
Among all Russian importers receiving Taiwanese machines from third countries, the largest volume of imports was attributed to the company I Machine Technology, specializing in machine tools and components.