ST. PETERSBURG, March 15 (Xinhua) -- The Russian Ministry of Industry and Trade has expanded the list of products allowed for parallel imports, according to a decree published on the country's official portal of legal information on Wednesday.
Twelve foreign auto brands were added to the list, including Citroen, Isuzu, Mazda, Opel, Peugeot, Renault, Ford, Genesis, Hyundai, Kia, Dacia and Hino. The list also includes IKEA products, Yves Saint Laurent brand cosmetics, Hasbro brand toys, Nintendo brand consoles, motor oils and spare parts.
According to the ministry, there are clear criteria for the inclusion or exclusion of a brand from the list. If a company left the Russian market, stopped deliveries, and terminated production in Russia, its products can be added to the list. If foreign partners fulfill their contractual obligations, and their products are presented in sufficient quantities on the shelf and supplied to Russian enterprises, the brand will be excluded.
In June 2022, Russian President Vladimir Putin signed a bill into law legalizing "parallel imports" in the country in a bid to stabilize prices amid Western economic sanctions. The law authorizes the Russian government to determine the list of goods that are subject to the new legislation.
The measure allows the import of goods of companies that have left the Russian market through alternative supply channels.
