ZeroFox Physical Security Intelligence Daily Brief - December 29, 2023

ZeroFox Physical Security Intelligence Daily Brief - December 29, 2023

ZeroFox physical security experts collect, curate, and analyze information derived from open and proprietary sources for comprehensive context of the circumstances surrounding global events. Here is today’s daily roundup of major developments.

Brief Highlights

• Taiwan Expands Sanctions Against Russia to Stop Tech Being Used for Military Purposes
• Argentina Lifts Import Controls
• Ukraine and Moldova Synchronize Electronic Border Queue

Taiwan Expands Sanctions Against Russia to Stop Tech Being Used for Military Purposes

On December 26, 2023, Taiwan’s economy ministry announced further sanctions on a list of goods for Russia and its ally Belarus in response to Russia’s invasion of Ukraine. The list includes equipment for making semiconductors and certain chemicals and medicines. The new sanctions are consistent with those already announced by the European Union (EU), the United States, and other countries. Taiwan had previously announced sanctions on Russia targeting chipmaking, although this is largely symbolic as there is only minimal direct trade between the island and Russia. It is, however, possible that Taiwanese goods are making it to Russia via third parties, which could include China or other Asian states that border Russia. The new sanctions fulfill Taiwan's international obligations to prevent the export of Taiwan’s high-tech goods for military use.

Argentina Lifts Import Controls

On December 26, 2023, Argentina lifted import controls imposed by the previous government. Argentina has an acute shortage of U.S. dollars, which are needed to pay for most imports like oil, gas, and electronics. Therefore, in order to preserve dollars, the previous government limited what could be imported and encouraged exports, which generate dollars, and for consumers to buy locally. However, the restrictions left certain sectors, like automobile manufacturing and the medical sector, short of needed equipment. While lifting import restrictions could see a surge in certain types of imports, it is unlikely to coincide with large-scale purchases from Argentina. At the same time, Argentina has been devaluing its own currency, the peso. A weak currency means importers get fewer dollars for the pesos, so they generally import less because they get less product for the same amount of pesos. On the other hand, exporters are able to sell more since buyers will get more for their dollars. Argentina is therefore likely to export more than it imports. However, they now have a more legal option to import must-needed items.

Ukraine and Moldova Synchronize Electronic Border Queue

On December 28, 2023, Ukraine and Moldova agreed to synchronize electronic border queues to simplify the transit of goods. This measure should improve speed trade between the Moldova-Ukraine border and comes amid a crucial time for Ukraine. Polish and Slovak truckers continue to blockade Ukrainian freight border crossings, which has significantly slowed Ukrainian exports.