It seems that despite the wave of anti-Russian sanctions, European countries are not ready to give up on such goods as caviar and vodka. Apparently, there is no restriction on the import of luxury goods from Russia, especially when their count hardly reaches 10 items. In the Q&A section on the official website, the European Commission explains that there is no ban on luxury imports from Russia, including caviar and vodka. This means that the recent ban on the export of high-end goods to Russia introduced by the EU does not function the opposite way. The official comment goes as follows, “The focus of this package of sanctions is on depriving Russia of EU luxury goods.” The fourth package of sanctions imposed by the EU is aimed at 9 Russian entities and 15 individuals, including Roman Abramovich. It also introduces a ban on selling luxury goods to Russia. The list includes cars worth over €50,000 as well as premium perfume, bags, alcohol, and delicacies. The US, however, went even further and banned Russian imports of vodka, seafood, and diamonds. This measure will deprive Russia of more than $1 billion in revenue. We can only guess what US authorities will do with the confiscated goods. In Italy, for example, black caviar smuggled into the country was given away to homeless people.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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