EU to Temporarily Lift Ban on Chinese Chip Supplier

The European Union is set to propose a temporary lifting of sanctions against a Chinese semiconductor supplier as early as this week, Bloomberg News reported on Thursday, citing sources familiar with the matter.

Last month, the EU formally approved a new package of sanctions against Russia that included several Chinese entities, drawing strong objections from Beijing.

Among the companies listed was a Chinese semiconductor firm. European carmakers lobbied for the ban to be postponed, arguing they had not had time to diversify their supply chains and that the measures would cause stocks to run out within weeks.

Reuters said it could not immediately verify the report.

(reuters, max)