Tickerlog
Friday 25th of February 2022 06:12:23 AM

Taiwan Semiconductor to comply with export rules, as Taiwan sanctions Russia

  • Taiwan Semiconductor (NYSE:TSM) said on Friday that it would comply with Taiwan's decision to sanction Russia and abide by the country's new export control rules after the Vladimir Putin-led country invaded Ukraine this week.
  • "TSMC complies with all applicable laws and regulations and is fully committed to complying with the new export control rules announced," it said in a statement obtained by Reuters.
  • "The company also has a rigorous export control system in place, including a robust assessment and review process to ensure export control restrictions are followed."
  • Earlier this week, it was reported that Taiwan Semiconductor would replace Samsung (OTC:SSNLF) as the manufacturer of the 5G radio frequency chips for Apple's (NASDAQ:AAPL) upcoming iPhone 14.

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