The Ministry of Industry and Trade raised the forecast for the volume of parallel imports to $20 billion by the end of the year

The Ministry of Industry and Trade expects that the volume of parallel imports by the end of the year will amount to $20 billion, Deputy Prime Minister and Minister Denis Manturov said. Previously he predictedthat the figure will be $16 billion. Over the month, the volume of parallel imports increased from $6.4 billion to $9.4 billion.

“According to the Federal Customs Service of Russia, in the three and a half months of the mechanism’s operation (since May 17), almost $9.4 billion worth of goods were imported ($3.1 billion in August alone). Therefore, we have already slightly adjusted the forecast and by the end of the year we now expect the import of goods for parallel imports in the amount of at least $20 billion,” said Mr. Manturov. “Izvestia”.

The minister did not predict whether the authorities would extend the parallel import mechanism after 2023. He noted that the Ministry of Industry and Trade has repeatedly excluded from the list some brands that have resumed deliveries to Russia.

Parallel import is the importation of goods officially manufactured by the manufacturer, which are legally delivered to third countries, but are not allowed by the manufacturer to be imported into the territory of the Russian Federation. Previously, the import of such goods was prohibited, but now it is partially allowed.

About the extension of the parallel import – in the material “Kommersant” “Anti-crisis without loans and a moratorium”.

Leonid Uvarchev