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Russia adopts law on foreign goods

It will allow the import of products into the country without the trademark holder’s permission

Russia’s State Duma on Tuesday adopted a law providing for the legalization of parallel imports into the country. The law protects Russian companies that import goods without the permission of the right holder from possible civil, administrative, and criminal liability.

According to the State Duma Committee on Economic Policy, the adoption of the law will ensure the interests of Russian consumers. It will also contribute to the development of the Russian economy amid Western sanctions.

In March, the Russian government authorized retailers to import products from abroad without the trademark owner’s permission. The decision came after many global brands halted sales or stopped exports to Russia due to pressure from their governments to comply with sanctions.

READ MORE: Moscow allows foreign goods under trade embargo

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

Last month, Russia’s ministry of industry and trade published a list of goods allowed for parallel import into the country.

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

https://ift.tt/RravEhO 21, 2022 at 07:21PM
from RT – Daily news

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