Russian business hit by tech sanctions
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 June 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
Export controls placed on supply of chips and hardware over Moscow's invasion of Ukraine dent the prospects for Russia's economy, and the US will provide Kyiv with longer-range rocket systems.
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Mentioned in this podcast:
‘Everything is gone’: Russian business hit hard by tech sanctions
What is America’s end-game for the war in Ukraine?
US to provide Ukraine with longer-range rocket systems
Price of a UK pint up more than 70% since financial crisis
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.6 | Today is Thursday, June 2nd, and this is your FT News Briefing. |
| 0:18.2 | We're going to look at how Western sanctions on technology are hitting Russian businesses. |
| 0:22.8 | It's pretty painful. Plus, we'll dig into the US administration's plans for Ukraine, |
| 0:27.7 | and why the White House is being so vague about its end goals. |
| 0:31.2 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:40.0 | Western sanctions on technology sales to Russia are taking a big toll on Russian businesses. |
| 0:46.0 | There are bottlenecks and supplies of semiconductors, electrical equipment, and hardware. |
| 0:51.5 | The FT's Max Seton says the impact isn't obvious right now. |
| 0:56.1 | It's not that everything is collapsing. |
| 0:58.5 | It's more that they've already been forced to drag we scale back their plans for all sorts of |
| 1:03.6 | things in the technological sector. We've seen the Russian government has basically have to admit |
| 1:08.0 | that it's not going to ban YouTube because you need an enormous amount of bandwidth for your |
| 1:12.5 | censorship infrastructure to do that. This is all running on imported components because Russia |
| 1:17.2 | doesn't make this stuff to any replaceable degree. 5G is probably not going to come to Russia now |
| 1:24.7 | because all of the equipment is supplied by Nokia and Ericsson, which are Scandinavian companies, |
| 1:29.8 | so they're obviously not going to want to be involved in that. Even China's Huawei, |
| 1:33.6 | which is under various sanctions, they were looking like being the real saviors of 5G in Russia, |
| 1:39.6 | and so they've had to drastically scale back their own presence in Russia because they don't want |
| 1:44.6 | any further blowback from sanctions themselves. That's been the case for a lot of Chinese companies. |
... |
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