Story perspectives

Russia's Parallel Imports Plunge 45% Amid Sanctions

1/10/2026

Summary

Story summary

Russia's parallel imports declined 45% in 2025 to $20.9 billion as officials tightened sanctions-bypass controls.
Industry Minister Anton Alikhanov said monthly volumes fell and projected full-year imports at about $275 billion.
The fashion retail sector faced challenges with at least 25 brands exiting in 2025.
Analysts anticipate further closures in 2026.
The vacancy rate in shopping malls may rise from 7.7% to 9.7% as stores close and rents are renegotiated.

History

Historical Context

Following Russia's annexation of Crimea in 2014, the United States and European Union imposed extensive sanctions, leading to a 45% decline in parallel imports and projected losses of $275 billion in total imports by 2025. These sanctions have severely impacted Russia's economy, contributing to ongoing challenges in the fashion retail sector, including brand exits and rising vacancy rates in shopping malls.

1 of 2

Story summary

Russia's parallel imports declined 45% in 2025 to $20.9 billion as officials tightened sanctions-bypass controls.
Industry Minister Anton Alikhanov said monthly volumes fell and projected full-year imports at about $275 billion.
The fashion retail sector faced challenges with at least 25 brands exiting in 2025.
Analysts anticipate further closures in 2026.
The vacancy rate in shopping malls may rise from 7.7% to 9.7% as stores close and rents are renegotiated.

1 / 2