How foreign economic activity will be supported in 2023

In 2023, the state adopted a set of measures to support those engaged in foreign economic activity in a crisis situation.

Since January 1, 2023, amendments have been in effect that have amended the rules for granting subsidies for reimbursement of lost income on loans that were issued for the purchase of products that are priority for import (see Decree of the Government of the Russian Federation No. 2354 of 12/20/2022).

Backbone and city-forming companies will have the opportunity to receive a deferral or installment payment of import customs duties without interest when importing goods into the customs territory of the EAEU, if these companies are supported by the legislation of the EAEU member states and certain conditions are met.

The Federal Customs Service of Russia explained how this simplified procedure is applied (see the information of the Federal Customs Service of Russia “Simplified the procedure for declaring components supplied together with components of technological equipment in accordance with the decision on the classification of goods” dated 12.04.2022).

Until January 1, 2029, it is possible to import multicomponent goods in the framework of several foreign economic transactions, the relevant amendments were made to federal laws.

Until September 1, 2023 inclusive, products can be imported without labeling provided for by the technical regulations of the EAEU. The same applies to the single circulation mark on the EAEU market. The appropriate marking must be applied before the sale of products to the buyer.

Participants in foreign economic activity engaged in it for less than a year should no longer provide security for the fulfillment of the obligation to pay customs duties and taxes in respect of goods specified in paragraphs 1-3, part 3, Article 55 of the Law on Customs Regulation (see, among other things, Federal Law No. 74-FZ of 26.03.2022).

The possibility of preferential lending is provided for the purchase of priority products for import.

The preferential interest rate is no more than 30% of the BR key rate effective on the day of interest accrual under the loan agreement, plus 3 percentage points. Certain requirements are imposed on the borrower.

The preferential rate is provided for the following terms:

• no more than 12 months from the date of the first tranche – to finance an import contract for the purchase of products. In this case, the agreement must contain a condition under which this rate applies to the amount of funding issued before December 31, 2022.;

• no more than 36 months from the date of the first tranche – for the purchase of products (equipment and (or) means of production) within the framework of an investment project or financing of an import contract, under which the period of manufacture and delivery of products exceeds 12 months, but not more than the term of the loan agreement. The preferential rate under the agreement should be applied to the amount of financing issued before December 31, 2023.

• In 2023, the Government of the Russian Federation has the right to assign the functions of insurance and guarantee support for exports and imports to another organization not provided for by law.

It is allowed to import into the Russian Federation without the consent of the copyright holders of original foreign goods that have been put into circulation abroad. The list of such goods was approved by Order No. 1532 of the Ministry of Industry and Trade of the Russian Federation dated 04/19/2022.

It will not be a violation of the exclusive right to the results of intellectual activity or means of individualization.:

• the results of intellectual activity, which are expressed in the goods (their groups) included in the named list;

• means of individualization with which such goods are labeled.

Until July 1, 2023, the import of pesticides and agrochemicals through any checkpoints across the state border of Russia is allowed.