– Russia is considering allowing retailers to import goods from abroad without the permission of the trademark owner, the antitrust regulator said on Friday after global brands halted sales or stopped exports due to the invasion of Ukraine.
Allowing “parallel imports” reflects how Russia’s retail sector has been upended by Western economic sanctions and decisions by international companies such as H&M and Nike to restrict their activities in Russia.
The Federal Antimonopoly Service (FAS) said that its head met with the director of the largest Russian Internet retailer Wildberries, which discussed the legalization of parallel imports. Both sides were confident that this move would benefit consumers and Russian businesses.
The FAS said it had prepared a draft regulation on parallel imports, sometimes also referred to as “grey imports”, which is being discussed by the government.
“An effective measure of support will be the FAS initiative allowing parallel imports. … Small and medium-sized businesses will be able to legally import foreign goods without obtaining additional permits, and the consumer will have access to a wider range of high-quality goods at affordable prices,” Tatyana Bakalchuk, CEO of Wildberries, said in a statement.
“This is especially important for socially significant goods, such as medicines, food and goods for children,” Bakalchuk added.
The Russian government has offered a range of support measures to try to shore up its economy in the face of Western sanctions over the conflict in Ukraine. Yet the Kremlin is facing its worst economic crisis since the fall of the Soviet Union in 1991.
(Reuters report)