In a recent development, the Dutch government has increased its export restrictions on advanced semiconductor manufacturing equipment, effectively taking over from the U.S. in controlling the exports of machines from ASML Holding N.V. (NASDAQ:ASML).
What Happened: The Netherlands announced on Friday that it is expanding licensing requirements for the export of advanced semiconductor manufacturing equipment, CNBC reported on Friday. This decision places the machines of ASML, a leading player in the semiconductor industry, under Dutch jurisdiction.
The Netherlands considers these restrictions as a key national security measure. Reinette Klever, minister of foreign trade and development for the Netherlands, stated, “I’ve made this decision for reasons of security. We see that technological advances have given rise to increased security risks associated with the export of this specific manufacturing equipment, especially in the current geopolitical context.”
ASML, in a separate statement, clarified that these new measures are a “technical change” and are not expected to impact its financial outlook for 2024 or its “longer-term scenarios.”
The Netherlands, being the home to ASML, holds a unique and leading position in the semiconductor industry. The country’s latest actions align with the U.S.’s efforts to cut off exports of key chips and semiconductor tools to China and encourage allied countries to follow suit.
The new rules apply to exports from the Netherlands to destinations outside of the European Union. ASML’s TWINSCAN NXT:1970i and 1980i DUV immersion lithography systems will now require a license from the Dutch government to be exported, rather than from Washington.
Price Action: ASML was trading 0.96% lower during Friday’s pre-market, according to Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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