International News

Russia to open duty-free shops to sell Western products to foreign diplomats ‣

Just like the Soviet-era Beriozka store, this boutique will enable foreign diplomats to purchase Western items, so long as they pay in {dollars} or euros.

Russia will revive an previous custom that originated within the Soviet Union. Beginning within the fall, duty-free shops promoting duty-free Western items in change for foreign forex will open throughout the nation. guardian. An idea paying homage to the Beriozka store from the Soviet period.

– Commercial –

So as to receive this imported product, which was more and more uncommon in odd Russian shops at the beginning of the conflict in Ukraine, a number of circumstances had to be met. Initially, as a foreign purchaser, every consumer should present paperwork proving that she or he is a diplomat, worker of a world group, or a member of his household. One other situation that should be revered: pay in foreign forex.

Fragrance, alcohol, watches…

The duty-free store can be owned by an organization created by the Russian Ministry of Foreign Affairs and different entities that can be chosen later. The focused products are these generally present in duty-free shops, specifically alcohol, tobacco, jewellery, cosmetics, perfumes, in addition to smartphones and watches.

– Commercial –

Between 1965 and 1990, Beriozka shops had been a means for the nation to purchase foreign forex. They later grew to become present shops, principally closed for the reason that mid-Nineties with the collapse of the Soviet Union. The context this time could be very completely different however the objective stays the identical: to replenish the foreign change reserves that Russia is struggling to entry due to Western sanctions imposed at the beginning of the conflict on Ukraine.