Russian transportation group, FESCO, has established a direct air route to import electronic goods from Hong Kong to Moscow, as Russian businesses seek to reduce their dependence on Western supply chains.
The move comes after the West imposed restrictions on technology exports to Russia following the country’s military incursion into Ukraine last year, causing several leading manufacturers to withdraw from the Russian market.
Russian electronics chain M.Video-Eldorado saw sales fall in 2022 due to rising prices and uncertainty in the market.
FESCO, Russia’s largest private transportation and logistics company, plans to increase cargo traffic on the new route and add new destination airports to attract major domestic electronics distributors.
The first shipment under the new route was dispatched from Hong Kong at the end of March, with two to three shipments planned per week.
FESCO said, “The group plans to increase cargo traffic on this route, add new destination airports, and increase the customer base of the FESCO air service by attracting major domestic electronics distributors.”
Deliveries take up to three days from a temporary storage warehouse in Hong Kong to their destination in Moscow.
Russian retailers have turned to countries such as China, Turkey, and India to increase their sales of electronics from nations that have not imposed sanctions on Russia.
