Russia may resume imports of banned ship equipment and technologies

The sanctions, imposed on Russia by the EU and the US, have negatively affected Russian shipbuilding industry and have resulted in the suspension of imports of some important foreign technologies and complex items of shipboard equipment, which are not produced in Russia.

This has posed a threat to the implementation of the recently announced ambitious Russian government plans to expand its shipbuilding industry.

However, there is a possibility that the supplies of some banned products and technologies will soon be resumed if it is agreed to legalise parallel imports.

Legalisation of parallel imports of shipboard equipment and components to Russia will mean that the rights for the sale of such products in the Russian market will rest with not only producers and their official partners, but also importers, regardless of the origin of the parts concerned. An exception will be made only for those manufacturers that have already localised production in Russia. However, this currently represents an insignificant amount.

These plans have already received support from Russia’s deputy prime-minister Igor Shuvalov and there is a possibility that the measures may be finally approved by 15 December 2014.