US-sanctioned company not a semiconductor manufacturer, says Miti – The Star Online
Wednesday, 05 Jun 2024
Jatronics was recently added to the US Department of the Treasury’s sanctions list for alleged links with Russian military suppliers as a part of broader sanctions targeting 300 entities from various countries
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (Miti) has clarified that a Malaysian company recently sanctioned by the US for having Russian military ties is a Malaysia-registered trading company and not a semiconductor manufacturer, as reported.
In a statement, the ministry said Jatronics Sdn Bhd, which has been alleged to supply electronic components to Russian firms linked to the military-industrial complex, is primarily engaged in “trading/wholesale of semiconductor and fabrication service”.
Malaysia enforces the Strategic Trade Management (STM) through STA 2010, which regulates the exports, transits, transshipments and brokering of strategic items, particularly those that could potentially be used for developing sophisticated military weapons.
“STM requires exporting companies and those in the supply chain to undertake all necessary efforts to ascertain key information i.e. the final destination, end-user and the usage of the product,” said Miti.
However, Jatronics is not registered under STA 2010 and has not applied for any export permits.
Additionally, the ministry said Russia is not on the United Nations Security Council Resolutions’ restricted or prohibited end-user list, and thus is not included under STA 2010.
Jatronics was recently added to the US Department of the Treasury’s sanctions list for alleged links with Russian military suppliers as a part of broader sanctions targeting 300 entities from various countries in connection with the Ukraine-Russia conflict.
Miti advised companies to be informed of any trade-restrictive measures and unilateral sanctions imposed by major trading partners to ensure they will not be subjected to any sanctions or other non-tariff barriers.
The ministry added that it has been engaging with the US Embassy in Kuala Lumpur on US unilateral sanctions.
“Miti will also continue its regular engagement with its key trading partners to address concerns, clarify Malaysia’s neutral stance, and ensure that our economic decisions continue to promote a safe and secure global trading environment.”
Jatronics , sanction , Miti , Russia , semiconductor
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