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Tuesday, March 28, 2023

The Ministry of Industry and Trade has sanctioned the allowance of the importation of IKEA products in a concurrent manner.

The Ministry of Industry and Trade has included IKEA products, cosmetics brands Lancôme, Giorgio Armani and Yves Saint Laurent, as well as clothing brands and other products in the new list of goods to be imported alongside. On this subject to write “Izvestia” with reference to the decree of the Ministry of Industry and Trade.

The ministry explained to the publication that the changes are targeted. Several brands that have left Russia will be added to the list, as well as brands that have resumed deliveries to the country will be excluded.

The import boost is aimed at niche markets where Russian producers “need more time to meet the needs of industrial enterprises and end consumers”, the press service of the Ministry of Industry and Trade told the newspaper.

Which brands will be included in the new list:

IKEA, toys and children’s products: Hasbro, Mattel, Logitech, Nintendo, cosmetics and perfumes: Lancôme, Giorgio Armani, Yves Saint Laurent, Kerastase, engine oils: Shell Helix, Rimula, household appliances: Zanussi, Wahl, agricultural and marine spare parts Technicians: Caterpillar, Bauer Kompressoren.

According to a source of Izvestia in one of the markets, IKEA products, toys and appliances will go on sale in Russia in late May – early June. New brands of clothes and perfumes – around the middle of summer.

The Ministry of Industry and Commerce will also establish a list of goods for parallel imports in a different way, the department told the publication. Now the list indicates a specific commodity group and brands that can be imported through parallel imports.

With the new approach, trademarks will be replaced by rightsholders, ie companies that own several trademarks at the same time. An example of such a company is Spain’s Inditex, which owns brands Zara Home, Bershka, Pull & Bear and others, a source told the newspaper.

According to the CEO of TelecomDaily Denis Kuskov, the new approach to the formation of the list will simplify the work of the Ministry of Industry and Trade, customs and importers themselves, and will also lead to an expansion of the assortment in Russian stores.

Western companies began to leave Russia en masse or suspend their activities in the country after the outbreak of hostilities in Ukraine. In this regard, Russian President Vladimir Putin in the summer of 2022 legalized parallel import. According to this document, clothes, shoes, household appliances and other goods can be imported into the country without the permission of the copyright holder.

On March 9, representatives of logistics companies told Kommersant FM radio station that Turkish customs had started blocking the transit of sanctioned goods arriving in Russia from Europe and the United States through parallel imports.

Bloomberg writing in early February that the United States was concerned about the growth of exports of American products to Russia and was pressuring Turkey and the United Arab Emirates because of their trade relations with Moscow.

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