An alarming number of Russian weapons are equipped with electronic components from the United States and allied countries. Companies should stop the flow of spare parts that are used to wage war against Ukraine.
This was stated by Dalip Singh, the White House's deputy adviser on national security for international economics, reports RBC-Ukraine with reference to Bloomberg.
“The percentage of Russian combat arms with US or allied branded components is alarmingly and unacceptably high,” Singh said.
He urged companies to use their creativity and resources. “Know your customers, know their customers and know the end users. Make sure that American firms are not unwitting cogs in the arsenal of the Russian autocracy,” he said.
The US and its allies have tried their best to stop the flow of parts to Russia . Export controls, which target the movement of goods rather than financial transactions, are difficult to enforce because manufacturers do not have the large internal control departments that have emerged in the banking sector over the past two decades of US sanctions.
“What was needed were decade to build a post-9/11 financial sanctions architecture,” Singh said in response to questions at a Brookings Institution event. We have to do it with incredible speed for technology and commodity companies.
Singh, who was instrumental in implementing the first round of economic measures against Russia in the early days of the 2022 invasion, said his comments were “an urgent call for corporate responsibility”. Singh returned to the White House in February after serving as PGIM's chief fixed income economist.