President Biden, the US president, is in talks with Asia’s economic powerhouses to garner their support for potentially crushing sanctions and export control packages, Foreign Policy reported.
Washington is believed to have the backing of Singapore, Japan and Taiwan for plans to implement restrictive export controls on Russia as part of a broader sanctions package aimed at crushing Russia’s economy and technology sectors if the Kremlin goes ahead with a full invasion of Ukraine.
All three are major producers of semiconductors, computer chips, and other high-end technological exports that are crucial to Russia’s economy and access to basic household and electronic items and even the import of smartphones and cars.
The move reflects rising concern in Asia about the wider economic and political impact of President Putin’s actions.
Taiwan, in particular, is closely monitoring the crisis and the West’s response to it, anxious that it could embolden Xi Jinping, the Chinese president, to escalate his long-held ambition to take the democratic island of 23.5 million people by force.
The US plan follows a new playbook that uses the “Foreign Direct Product Rule” to extend US jurisdiction over products made with US software or technology, even if those products are made abroad by foreign companies without other ties to the United States.