Export of luxury goods from Europe and the USA is prohibited. What is important to know

EU countries after the usaare preparing to ban the supply of luxury goods to RUSSIA. RBC explains what one million compatriots should prepare for,

The European Union has prepared a new package of restrictions on Russia (at the time of publication of the material, it had not yet been officially published). But the new series of sanctions will include a ban on the EXPORT of luxury items, the European Commission announced on March 11, calling this measure a “direct blow” to the Russian elite.

Earlier, the US Department of Commerce published a detailed list of goods that will be banned from export to Russia from March 16, 2022. The list, in particular, includes perfumery, clothing and footwear, which cost more than $1,000 per item in wholesale.

Guide to sanctions and restrictions against Russia. Main Business

Many companies specializing in the production and sale of luxury goods were ahead of the ban and have already announced the suspension of work in Russia. French Hermès was the first to announce the closure of boutiques on March 4, then LVMH (brands Louis Vuitton, Dior, Fendi, Loro Piana, Berluti, Bvlgari, Tiffany & Co., etc.) and Kering (Gucci, Bottega Veneta, Alexander McQueen, Saint Laurent and others), Chanel and the Swiss watch house Richemont.

Who are the sanctions aimed at , will luxury goods from retail disappear completely, who will benefit from the ban - in the RBC review.