NYT: Russians buy cars in Dubai for resale
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In Dubai, Russians buy cars for resale, and domestic car dealerships have established their own imports from the UAE. About it writes The New York Times.
The publication, citing its interlocutors, reports that wealthy Russians have adapted to the sanctions and buy premium cars in Dubai. Smaller entrepreneurs do it for resale. The three men said that importing and reselling cars is a profitable business. One of them bought over 100 cars in the last year.
One of the traders noted that Dubai is setting up a business to equip cars for winter weather, as models shipped to the Middle East are made for warmer climates. He specified that “when the Russians arrived, he sold everything.”
The New York Times notes that cars are mainly supplied to Russia through parallel imports. The publication cites data from Avtostat, according to which it accounts for 12% of all passenger cars sold in Russia in 2022. New trade routes pass through Turkey, China and the former Soviet republics, the newspaper adds. Russian car dealerships, with which Western countries have severed relations, have established their own imports.
According to auto expert Petr Bakanov, “everyone who is not lazy” sell cars from Dubai, and spare parts are cheaper than they were before February 2022. Cars are transported by ferries and trucks through Iran and Kazakhstan.
On May 10, it became known that the ambassadors of the EU countries, when discussing a new package of sanctions against Russia, raised the issue of imposing restrictions on companies from third countries in order to reduce the re-export of sanctioned goods to the Russian Federation. It was about companies from Kazakhstan, as well as China, Iran and Uzbekistan.
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