[NEWS] The countries of the EAEU and the former USSR increased

The Eurasian Economic Union, as well as a number of other countries of the former USSR, increased the supply of goods to Russia in the summer, writes RBC. According to experts, this was due to the restructuring of trade against the backdrop of sanctions and the effects of a strong ruble.

Exports of goods to Russia from the EAEU countries has increased not only compared to the spring lows after the outbreak of hostilities in Ukraine but also relative to the pre-crisis levels of 2021. So, in March-June 2022, the EAEU bloc shipped goods worth over $9.4 billion to Russia, which is 15% more than in the same months of 2021 (about $8.2 billion), following from RBC’s calculations.

It is noted that this result was mainly provided by Belarus, Armenia and Kyrgyzstan: for example, since the spring of 2022, Belarus has surpassed Germany in terms of exports to Russia and has become the second largest supplier of goods to the country after China. As Natalya Milchakova, an analyst at Freedom Finance Global, noted, the EAEU countries import to Russia, including the necessary imported components and components for the manufacturing industry. In addition, Sofya Donets, chief economist at Renaissance Capital for Russia and the CIS, believes that we are talking about the re-export of goods from unfriendly countries through neighboring countries.

Nikolai Dunaev, a member of the Presidium of Opora Rossii, the head of the organization’s international relations committee, notes that the expansion of trade with the countries of the EAEU and the former USSR is natural, including in connection with parallel imports. In addition, Russia is the closest and most accessible market for these countries, but the restructuring of logistics chains in the direction of neighboring countries entails increased costs for Russian importers.

In August, it was reported that one in ten Russians purchased goods under the “parallel import” scheme over the past month. Analysts  noted that 62% of Russian residents did not pay attention to the appearance of goods brought into the country by this method, 27% noticed the scheme, and 11% of them had already purchased these goods. 9% positively commented on the purchase, the remaining 2% have complaints about the sellers.

35% of Russians are apprehensive about buying “parallel” products for a number of reasons. 39% of them are afraid to encounter defective goods, 32% believe that the price of products is too high, 19% are in no hurry to purchase such goods due to the lack of a guarantee, the remaining 10% are afraid that the goods are not localized for the Russian market. At the same time, 53% of Russians do not see problems in the supply of goods without the permission of manufacturing brands.