XM does not provide services to residents of the United States of America.

Senate panel to question US semiconductor firms on Russian weapons



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-Senate panel to question US semiconductor firms on Russian weapons</title></head><body>

Adds no immediate comment from companies, Intel declining comment, background on prior hearing, more details on hearing in paragraphs 4-9

By David Shepardson

WASHINGTON, Sept 5 (Reuters) -The U.S. Senate Permanent Subcommittee on Investigations said on Thursday it will hold a hearing with four companies on the use of American-manufactured semiconductors in Russian weapons deployed in the war in Ukraine.

Senator Richard Blumenthal, a Democrat who chairs the panel, announced the hearing set for Tuesday will include testimony from executives from Analog Devices ADI.O, Advanced Micro Devices AMD.O, Intel INTC.O and Texas Instruments TXN.O.

The committee said the companies' "products have consistently appeared in recovered Russian weapons. The hearing will probe the companies’ compliance with export controls intended to block Russia from accessing American technology."

Intel declined to comment. The other three companies did not immediately respond to requests for comment. The firms are sending vice presidents who oversee trade compliance issues to testify.

Blumenthal in February said at a hearing that U.S. semiconductor manufacturers should do more to keep their chips from illegally making their way into equipment used by the Russian military.

Reports have shown U.S.-origin chips and other technology continues to be found in a wide range of Russian equipment on the battlefield in Ukraine, from drones and radios to missiles and armored vehicles, despite strict U.S export controls imposed in 2022 after Russia's invasion of Ukraine.

Preliminary data shows significant increases since 2021 in exports to countries that Russia may be using to evade controls, according to a Senate memo released in February.

Intel said in February its contracts require customers and distributors to comply with regulations, and that it works to track and mitigate potential distributor issues.

Also in February, AMD said it "welcomes strengthening public/private partnerships to combat illicit product diversion." Texas Instruments said it invests "significant time and resources" to keep its chips "out of the hands of bad actors," while Analog Devices said it has taken "significant and proactive measures to mitigate gray market risks."




Reporting by David Shepardson
Editing by Bill Berkrot

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.