Russian Trade Ministry to draft proposal to extend parallel imports to 2026

ST. PETERSBURG. June 23 (Interfax) - Russia plans to extend the parallel imports mechanism that allows imports of goods into the country without the consent of rights holders for another year, Deputy Industry and Trade Minister Roman Chekushov told reporters.

"Such decisions have not been made at this point, but the Industry and Trade Ministry believes that this mechanism should be extended to 2026. We will prepare the relevant proposals," Chekushov said.

He also confirmed plans to again revise the list of goods that fall are eligible for parallel imports.

"We are planning new changes, aiming for them to be ready by the end of summer, beginning of September. The work is being done as follows. Proposals are being collected from sectors, our manufacturers, who confirm to us that they are already ready to replace imported goods and produce them in sufficient quantity, as well as applications submitted by companies that have decided to officially or are already officially shipping goods, so they're asking us to exclude them from the decree on parallel imports," Chekushov said.

"We're not planning to significantly expand the decree. Even the contrary, our tendency in the past year has been to reduce the brands that are subject to parallel imports," he said.

Industry and Trade Minister Anton Alikhanov said in an interview with Interfax last week that new revisions to the list of goods that fall under the parallel imports mechanism are expected at the end of August. Cuts to the list could include certain brands in light industry and radio electronics, he said.

Alikhanov also said that parallel imports have now fallen to about $2 billion per month from a peak of $6 billion in December 2023.