Russian Government May Soon Cancel Parallel Import of Some Goods

Updated : 2022-09-13Source : CCFAO

Russian Government May Soon Cancel Parallel Import of Some Goods

Updated : 2022-09-13Source : CCFAO
【Fonts: A+ A A- Print

Russian Deputy Prime Minister and Minister of Industry and Trade, Manturov, said on July 21, 2022 that the Russian government may soon cancel parallel import of some commodities.

According to the "Russia-24" TV channel, Manturov inspected the industrial enterprises in Russia's Udmurt Republic with the Russian Prime Minister Mishustin on the same day. Manturov remarked that it's a "makeshift" to "balance the market" for Russia to allow parallel import; when there are sufficient domestic products in the Russian market, parallel import of some commodities will be canceled soon.

The Russian Ministry of Industry and Trade announced on May 6 that the parallel import mechanism would be launched from that day on and a list of parallel import products would be approved to protect the interests of consumers in Russia when companies from "unfriendly" countries and regions withdraw from the Russian market.

According to information released by the Russian Legal Information Network, the list of parallel import products envelops automobiles and spare parts, cameras and video cameras, medical equipment, musical instruments, game consoles, cosmetics, furniture, bedding, household items, and chemicals.

Russian President Vladimir Putin signed a law on June 28 to legitimize parallel import.