basic trade terms, how you can help them get ready access to the food supplies they need. and we re absolutely doing that. our members came together and agreed that things are tough for developing countries and we need to be part of the solution, not the problem. so, there was an agreement, one, that there should be absolutely no export restrictions on food, humanitarian supplies, so that the world food programme can purchase, get access easily and be able to feed all those that it s feeding who are hungry around the world. secondly, they agreed in a declaration that they ll keep restrictions on food down, and we were at about 78 restrictions. it s down to 56 now. so, members are actually making the effort. you could not imagine how much. imagine how helpful this is to keeping world prices less volatile and making it more affordable. is it perfect?
our members came together and agreed that things are tough for developing countries and we need to be part of the solution, not the problem. so, there was an agreement, one, that there should be absolutely no export restrictions on food, humanitarian supplies, so that the world food programme can purchase, get access easily and be able to feed all those that it s feeding who are hungry around the world. secondly, they agreed in a declaration that they ll keep restrictions on food down, and we were at about 78 restrictions. it s down to 56 now. so, members are actually making the effort. you could not imagine how helpful this is to keeping world prices less volatile and making it more affordable. is it perfect? the answer is no. we want us to phase out as many restrictions as we possibly can, so it s a net contribution to making food cheaper
russian customs records, and found, in fact, despite these export restrictions the flow of chips to russia has continued, and the reason this is important is, the russians are very reliant on western technology for its weapons systems, like cruise missiles, drones, other systems used in ukraine right now. so what we found, for example, between april 1st and october 31st, 777 million dollars worth of, of western components, computer components, chips, have all flowed into russia, despite the restrictions. david ignatius? so, steve, i just want to ask you what lies ahead? the promise when sanctions were imposed on russia was that these would be crippling and that the russian war machine would be exhausted and unable to continue
Together with a similar move by the Netherlands, this would represent a near total blockade of China’s ability to buy gear for making advanced semiconductors.
China’s chip industry is seeing some signs of relief from US export restrictions, after the Bureau of Industry and Security refrained from adding a group of Chinese companies to a trade sanction list.