Parallel imports to Russia reach $6.8 bln in Q1, March figures drop 20% to $2 bln - Industry and Trade Ministry

MOSCOW. June 2 (Interfax) - Parallel imports (allowing goods to be imported without the rights holders' consent) to Russia amounted to $6.8 billion in Q1 2025 while showing a gradual month-on-month decline, State Secretary and Deputy Industry and Trade Minister Roman Chekushov told Interfax.

"The monthly amount of parallel imports in monetary terms continues to decline. In January it was $2.3 billion, in February - $2.5 billion and in March - $2 billion. This trend primarily concerns electronics, as well as reactors, boilers, equipment and mechanical devices - engines, turbines and pumps," he said.

The phased reduction in parallel imports is linked to "the saturation of the Russian market with domestic products and the replacement of discontinued items with goods manufactured in friendly countries," Chekushov said.

"Let me remind you that this mechanism is temporary, and we recently made further adjustments to the list by excluding perfumery and cosmetics, except for therapeutic products. The list has been modified eight times since its introduction. We plan to continue reducing parallel imports," he said.

The parallel import mechanism was introduced in Russia in early May 2022 in response to sanctions from unfriendly countries. By the end of 2022, parallel imports to Russia exceeded $20 billion, according to the Federal Customs Service (which later stopped publishing data), corresponding to an average monthly amount of over $2.5 billion.

According to the Industry and Trade Ministry, the average monthly amount of parallel imports in 2024 was around $3 billion.