Parallel imports from Russia rise by USD20B so far this year
Date
12/20/2022 3:43:33 AM
(MENAFN) According to Vladimir Bulavin, the head of the Federal Customs Service, the amount of products imported into Russia through the parallel imports method has surpassed USD20 billion so far this year.
Parallel imports, often known as "gray imports’," are instances where a non-counterfeit product is brought into the country through a different supply route without the consent of the owner of the intellectual property.
Since May, 2.4 million tons of goods—primarily automobiles, machinery, and equipment—as well as products for light industries have been imported, according to Bulavin, speaking to Russia 24 TV on Monday. He added that this has contributed to the Russian market's pricing stability.
The Russian government granted shops freedom to import goods from other countries without the owner of the trademark in March. The choice was made after several international companies ceased selling to or exporting to Russia as a result of pressure from their governments to abide by sanctions. Parallel imports were required, according to Prime Minister Mikhail Mishustin, to ensure that some products could still be delivered to Russia.
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