Moscow allows foreign goods under trade embargo

Moscow allows foreign goods under trade embargo

Russia’s Ministry of Industry and Trade on Friday published a list of goods allowed for parallel import into the country. The mechanism, which will circumvent the Western embargo on the export of goods to Russia by importing them from third party countries, will become effective on May 6.

The list includes 56 groups of goods required for the industry and for consumers. Customs officers will have to check the TN VED codes (commodity nomenclature for foreign economic activity) and brand names with the order.

The list includes plants, pharmaceutical products, and cosmetics. It does not cover certain brands, such as Garnier, L’Oreal, Maybelline, NYX, Lancome, Valentine, Prada, and others.

Parallel imports of apparel, headgear, footwear, fabrics, and furs and leather goods have been allowed without any limitation by brands.

The list also includes certain car components and spare parts and almost all foreign car brands like GM, Chevrolet, Mitsubishi, Renault, Tesla, Honda, Nissan, Land Rover, Mercedes-Benz, BMW, Volkswagen, Skoda, Audi, Toyota, Lexus, Suzuki, Volvo and others.

Among other items allowed for import are musical instruments, airport equipment, sound recording and TV equipment, boats, and railway locomotives.

According to the head of the ministry, Denis Manturov, the list will be adjusted once a quarter or every two months. It can either expand or narrow depending on the decisions of foreign companies to work in Russia, he said.

In March, Moscow authorized retailers to import products from abroad without the trademark owner’s permission. The decision followed global brands halting sales or stopping exports to Russia due to pressure from their governments to comply with sanctions.

Prime Minister Mikhail Mishustin then clarified that “parallel imports” were needed to ensure that certain goods could continue to be shipped to Russia.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

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