Europe

Russia publishes a list of “parallel import” products

Russia released a detailed list of products from foreign automakers, tech companies and consumer brands on Friday. The government has included it in a so-called “parallel import” scheme aimed at protecting consumers from the isolation of business by the West.

Many global brands have stopped selling in Russia in response to Moscow’s dispatch of tens of thousands of troops to Ukraine on February 24, but unprecedented western sanctions are already tense. Access to the global supply chain is restricted.

The government announced in March that it would allow a “parallel import” system.

According to sources from the Russian Ministry of Trade, this mechanism allows Russian companies to purchase goods from companies outside Russia that they have previously legally purchased, including the country of origin of the goods.

The government’s list, published in writing on Friday, includes a long list of products from all major foreign automakers, technology companies such as Apple (AAPL.O) and Cisco (CSCO.O), as well as fashion brands. It contains.

This document has nominated trademark owners who have stated that certain copyright clauses no longer apply. The product list ranges from automotive parts and construction materials to cosmetics, electrical equipment and textiles.

“Parallel imports do not mean a permit to import and distribute counterfeit goods in Russia. Products must be legally distributed from the importing country,” the Ministry of Trade said in a statement.

“One of the principles of making a list was to protect the interests of domestic consumers on the products of foreign companies that have left the Russian market under sanctions imposed by” unfriendly “countries,” it said. Told.

Dmitry Polevoy, Head of Investment in LockoInvest Asset Management and former Chief Economist of State Russia, considers parallel imports the same as gray imports because customs services are paid and shipments are legal from a Russian perspective. He said it shouldn’t. Direct investment fund.

“Imports are likely to be lower than they were before the latest sanctions because of the need to resolve logistics issues,” said Poleboy, who could impose restrictions on compliance with sanctions. He added that prices could be pushed up if additional costs were incurred.

“The question is how close the producers are to the fact that their products go to Russia.”

https://cyprus-mail.com/2022/05/09/russia-publishes-list-of-parallel-imports-goods/ Russia publishes a list of “parallel import” products

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