The Ministry of Economic Affairs is to expand the scope of restrictions on exports to Russia and Belarus by adding nitrocellulose to its list of controlled items, effective from Friday next week.
Nitrocellulose, a highly flammable thermoplastic resin, is an essential component in smokeless gunpowder and ammunition propellant.
It has already been regulated by the US and the EU, the International Trade Administration said in a statement on Monday.
Photo: CNA
The inclusion of nitrocellulose comes after Taipei on March 8 added 77 items to its list of machine tools prohibited from being exported to Russia and Belarus in a bid to prevent the Russian military from using Taiwan’s high-tech products in its war in Ukraine.
Taiwan already imposes export restrictions on nitrocellulose with a nitrogen concentration in excess of 12.2 percent, but nothing below that, the trade agency said.
The decision to control exports of all nitrocellulose is necessary to prevent “a regulatory loophole,” it said.
Taoyuan-based TNC Industrial Co (台硝化工) is the only company in Taiwan that produces nitrocellulose with a nitrogen concentration below 12.2 percent, an official at the trade agency said.
The company’s thermoplastic resins are mainly shipped to the US, Japan and Vietnam for use as adhesives in metal, wood and leather products, said the official, who spoke on condition of anonymity.
In addition, the fine imposed on first-time offenders for exporting restricted items to Russia and Belarus has been increased to NT$1 million (US$30,979), the ministry said.
Meanwhile, the ministry called on businesses to comply with domestic and international export control regulations, fulfill their due diligence requirements and avoid contravening regulations, which would protect their business reputation, as well as their own rights and interests.
Ukraine’s Central Scientific Research Institute of Armament and Military Equipment said that nitrocellulose with a nitrogen concentration of only 11.5 percent is sufficient to produce smokeless gunpowder.
The information was disclosed after an inquiry by a European security research think tank in late April.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
ROUGH RECORDS: Bonds in Japan, as well is in New Zealand, Australia and the US, are seeing the effects of a nervy market as stock exchanges across Asia edge down A deepening slump in Japanese government bonds added fuel to the selloff in global debt markets as rising oil prices stoked inflation fears and pushed yields to multi-decade highs. Japan’s 30-year yield yesterday surged as much as 20 basis points to the highest level since the tenor’s debut in 1999, before paring some of the move. Shorter-maturity Japanese debt was also under pressure, underscored by weak demand at a sale of five-year notes that offered a record-high coupon of 2 percent. Concerns over inflation and government spending rippling through markets including the US, Australia and New Zealand are being amplified in Japan,
The US has cleared about 10 Chinese firms to buy Nvidia Corp’s second-most powerful artificial intelligence (AI) chip, the H200, but not a single delivery has been made so far, three people familiar with the matter said, leaving a major technology deal in limbo as chief executive officer Jensen Huang (黃仁勳) seeks a breakthrough in China this week. Huang, who was not initially listed in a White House delegation to Beijing, joined the trip after an invitation from US President Donald Trump, a source said. Trump picked him up in Alaska en route to a summit with Chinese President Xi Jinping
Wall Street is licking its chops over an unprecedented slate of massive initial public offerings (IPOs) set to arrive in the coming months, beginning with Elon Musk’s Space Exploration Technologies Corp (SpaceX) next month. That is expected to be followed by artificial intelligence (AI) rivals OpenAI and Anthropic PBC. The trio of mega listings, each eyeing valuations around US$1 trillion or more, constitutes a heady period of elevated risk and reward. SpaceX is targeting an IPO that would raise up to US$80 billion — about double the funds generated from all IPOs last year. OpenAI and Anthropic are eyeing IPOs raising US$60 billion. “We’re