China has given Russians an ultimatum: prices in Russia will rise sharply

Many Chinese goods may rise in price for Russians. This is because international sanctions against Russia have complicated trade logistically and due to problems with transactions.

According to the Russian media, since mid-July, Chinese suppliers have been demanding that goods be transported to Russia through third countries. This primarily concerns goods from the stop-lists of foreign economic activity codes. These include electronics, but there are also cases of goods that are not on this list.

Initially, suppliers made some concessions, but later the situation became more severe and some buyers were simply forced to face the fact. Russian importers assume that those suppliers who are unable to accept payments from Russian companies through Chinese banks are asking to ship goods through third countries, as they can only receive money through other countries, so they must have documents that the goods have been shipped there.

The routes for delivering goods through third countries have not yet been "tested" and will take time to develop. The search for alternative routes leads to additional costs in the form of paying agents' commissions, which will increase the final cost of the goods and, as a result, reduce the volume of imported products.

This, in particular, applies to Chinese cars in Russia – their prices will rise by 10% in September. Importers complain about problems with money transfers to China – payments take 1.5-2 months, and some are returned, which dramatically increases the cost of delivery.

The dealers were also negatively affected by the increase in the Central Bank's key policy rate to 18%, which led to an increase in commercial loan rates to 26-30%. With this cost of money, businesses lose 2% per month without any return. Due to the freezing of working capital, car dealers have lost about 8% of their investments, local experts say.

Problems with paying for the supply of cars from China have already led to an increase in prices for new cars of up to 5%. Now the average cost of a new car is 3.57 million rubles, but by the end of the year this amount may increase by another 200-300 thousand, but this may not be the limit.

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