Contrary imports are made permissible in Russia despite Western sanctions.
In an effort to maintain pricing stability in the face of Western economic sanctions, Russian President Vladimir Putin signed a bill into law on Tuesday that permits “parallel imports” in the nation.
The law shields Russian businesses from potential civil, administrative, and criminal penalties when they import specific product categories without the consent of the intellectual property owner, often known as parallel imports.
The bill gives the Russian government the power to choose which products are covered by the new regulations.
According to Vyacheslav Volodin, the head of Russia’s State Duma, the licensing of parallel imports aims to shield the Russian economy and people from economic sanctions by streamlining trade in the qualified items and stabilizing their prices.