U.S. considering controlling exports to Russia if there is an invasion of Ukraine

The Biden administration is considering controlling exports related to semiconductors to harm Russian industries, should Russia invade Ukraine, a senior administration official confirmed to CBS News. The move could be done in a way to keep new smartphones and other technology from Russian citizens. 

Specifically, the administration is threatening to use the foreign direct product rule to deprive Russia of semiconductor technology, the official confirmed, since virtually all semiconductors are designed with U.S. software and parts. The U.S. is working with European and Asian allies to make a rule that would keep essential components from industries Russian President Vladimir Putin needs to grow the Russian economy, like artificial intelligence and aerospace. 

The Washington Post first reported the U.S. is threatening to use such export control. The foreign direct product rule was deployed on Chinese company Huawei last year, and their annual revenue dropped sharply.