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EU Said to Seek Temporary Lifting of Sanctions on Chinese Semiconductor Supplier to Safeguard Auto Supply Chain
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Bloomberg, citing sources, reported that the European Union will propose temporarily lifting sanctions on a Chinese semiconductor supplier. Automakers had earlier warned that failure to lift the ban could throw supply chains into disarray. According to people familiar with the matter, the European Commission could put forward as soon as this week an exemption plan targeting YANGJIE TECH (300373.SZ). However, the measure would still require approval from all 27 EU member states before it can take effect. YANGJIE TECH (300373.SZ) was previously included in the EUs 20th round of sanctions against Russia. Sources said European car manufacturers had lobbied the EU to delay implementation of the ban, arguing that they had not had sufficient time to diversify their supply chains and that the measures could lead to inventories being depleted within weeks. Any exemption would be temporary, potentially lasting several months, to allow the industry more time to secure alternative suppliers. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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