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Event | Industry News | Ukraine/Russia Conflict
List of Companies Ending Their Business with Russia
Under pressure from investors and consumers, a growing number of companies are unwinding their investments within Russia: closing stores, pausing sales and services, temporarily cutting ties, or suspending shipments. Here’s a look at some companies from various electronics, automotive, and tech industries that have suspended,…
Event | Industry News | Ukraine/Russia Conflict
European Union Bans Russian Crude Oil
On Monday, May 30, 2022, European Union leaders banned the import of Russian oil to their entire 27 member nations. Over two-thirds of all Russian oil exports go to the EU and would be a devastating blow to the Russian economy. 90% of all…
Conflict Minerals Compliance | Industry News | Regulation and Compliance updates
Cobalt & MICA Reporting Templates to be Phased Out
Updated May 31, 2022 – As of April 1, 2022, The Responsible Minerals Initiative (RMI) has officially phased out the use of the Cobalt Reporting Template (CRT) and the Mica Reporting Template (MRT). The free Extended Minerals Reporting Template is now the primary reporting template…
Event | Industry News | Supply Chain | Ukraine/Russia Conflict
UK Sanctions Target Russia Precious Metals
May 27, 2022 – The United Kingdom announced a 35% tariff on all platinum and palladium imports from Russia and Belarus, targeting over £1.7 billion of trade. This new round of sanctions is intended to put increased pressure on Russia and further weaken the military…
Event | Industry News | Supply Chain | Ukraine/Russia Conflict
Russia Suspends Finland’s Gas Supply
May 26, 2022 – Russia has terminated gas supplies to Finland, the third country to be boycotted by Russian gas giant Gazprom to-date, after the country refused to make its payment in the Russian Ruble. TIP: Check out our Live Updates Blog to get current news…
COVID-19 Impact Updates | Industry News | Supply Chain
Grim Production Forecasts from China’s COVID-19 Lockdown
May 23, 2022 – After more than 6 weeks of strict lockdowns, China’s drop in industrial production and retail sales is far worse than what analysts have predicted. Worst Economic Fallout Since February 2020 The economic contraction is the worst felt in China since…
Industry News | Regulation and Compliance updates | Supply Chain
3M Factory Shutdown Could Rock Global Electronics Market
Chipmakers use a semiconductor-grade PFAS as a coolant during chip etching – and 80% of that came from a single 3M plant in Belgium. May 11, 2022 – Global chipmakers are facing a major issue with the shutdown of a 3M Company factory that produces…
Conflict Minerals Compliance | Industry News | Regulation and Compliance updates
CMRT 6.2 Available for Download
Updated May 11, 2022 – The Responsible Minerals Initiative (RMI) has released version 6.22 of the Conflict Minerals Reporting Template (CMRT). CMRT 6.22 contains Minor revisions to correct reported issues including those related to “Product List” tab. April 29, 2022 – The Responsible Minerals Initiative…
Industry News | Supply Chain | Ukraine/Russia Conflict
Poland & Bulgaria cut off from Russian gas
Gas dependency in Europe could cause disruptions in factory production May 10, 2022 – Russia will halt gas supplies to Poland and Bulgaria after the two countries refused to pay for supplies in the Russian ruble. Both countries receive a substantial amount of their domestic…
Event | Industry News | Supply Chain
Earthquakes Impact Taiwan Manufacturing
April 27, 2022 – A series of earthquakes have rocked Taiwan over the past several weeks. Most notably, Hualien, a large city on Taiwan’s east coast, was struck by a 6.7 magnitude quake that left one person injured and impacted the structural integrity of the Yuxing Bridge, causing it to collapse….