Some have likened the approval of 'grey markets' to 'legalizing Russia's bootleg economy.'
"The Russian markets – its economy as we know – they’re very different from what we know in the United States," Anthony Kim, a research fellow in economic freedom at the Heritage Foundation, explained to FOX Business. "The lack of transparency, accountability…far less efficient and clean.
These markets and imports will occur without needing to obtain permission from a trademark’s owner, a move that is similar to "legalizing Russia’s bootleg economy," according to Fortune. BIDEN SANCTIONS ‘MUST STAY’ UNTIL UKRAINE, CRIMEA TERRITORY RESTORED: RUSSIAN CHESS GRANDMASTER KASPAROV Kim said that the U.S. "cannot apply the same types of analytical tools and expectations" to Russia’s markets, and the Institute of Export & International Trade in the U.K. noted that the markets should "flourish."
Russia has gone to great strides to rein in its economy, which faced a number of shocks and setbacks due to the western sanctions: Initial panic led to Russian citizens trying to pull their money from the bank, which forced banks to then borrow heavily from the Bank of Russia to meet demand.
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