Maldives is second-largest microcircuit supplier to Russia after China

The Maldives helps Russia circumvent sanctions. The small island state has exported about 400,000 semiconductors worth more than US$53 million to the terrorist country in one year after the full-scale invasion.

Source: Nikkei Asia, referring to Russian customs data obtained from Indian research firm Export Genius

Details: According to customs data, about 400,000 semiconductors worth US$53.6 million were delivered to the Russian Federation via the Maldives.

Nikkei Asia noted that the analysed records covered deliveries worth over US$50,000 each. Overall, the Maldives was second after China, including Hong Kong, in the amount of such imports in the year since 24 February.

The American-made semiconductor export volume to the Russian Federation is about 20% of the total export of the Maldives in 2021, which, according to UN estimates, amounted to US$280 million.

The source of Nikkei Asia in one of the shipping companies said that semiconductor deliveries from the US to Russia are possible. You just need to indicate the Maldivian trading or forwarding company as the recipient to do this.

Additionally, none of the 14 companies exporting semiconductors to Russia is based in the Maldives. So, Mykines Corp., which sent US$40 million worth of chips to Russia, is based in London.

Background: The Financial Times previously reported that the UK company Mykines Corporation, registered in London, organised the sale of electronics to Russia in the amount of about US$1.2 billion from the moment of the Russian full-scale invasion into Ukraine in early 2022.

"U.S. authorities have already taken notice of freight forwarders in the Maldives and their potential role in avoiding restrictions on shipments to Russia. In May 2022, the U.S. Commerce Department accused a company called Intermodal Maldives of aiding the export of aircraft parts to Russia in contravention of U.S. restrictions," the message said.

Semiconductors shipments from the Maldives increased sharply in May 2022 after Aeroflot resumed direct scheduled flights from Moscow to Male. The state-owned airline planes could become a means of transporting semiconductors, Nikkei Asia noted.

Journalists fight on their own frontline. Support Ukrainska Pravda or become our patron!