Heard on the Street: Like birds, microprocessors often take a circuitous route to arrive at their destination. Controlling where they fly to is proving difficult.
on anyone who sells many, if not most, varieties to Russia. Still, recent leaks—and some publicly available data—make clear that they keep showing up on Russian shores. At the center of the trade is China and, allegedly, a few other intermediary countries such as Turkey.
The adaptability of global trade networks in response to sanctions and tariffs isn’t a new story: For another recent example, look no further than global energy markets, which have adapted with remarkable speed to the West’s decision to wean itself off Russian energy. But stemming the flow of semiconductors—which power both everyday appliances and military equipment—into Russia presents a particularly tough problem.
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