Russia Expands on Import and Export of Art Objects

By Elena Gurevich.

In March 2018, amendments to Russia’s Federal Law “On Export and Import of Cultural Valuables” came into effect to facilitate the development of the Russian art market, and to open it up to international trade (“the Amendments”).^[i] This Federal Law, as amended, also introduces changes to several other laws, including “Certain Legislative Acts of the Russian Federation in Connection with the Improvement of State Administration in the Sphere of Export and Import of Cultural Property and Archival Affairs” and to the “Tax Code of the Russian Federation, Part II.”^[ii]

The Amendments regulate the import and export of cultural property between Russia and the countries that are not members of the Eurasian Economic Union (EAEU).^[iii] The approach taken by the new Amendments to import/export regulation to and from non-EAEU members will follow the one set forth in the EAEU import/export regulations.^[iv]

As compared to the previous legislation, the latest Amendments lift or lessen some of the restrictions that did not allow the Russian art market to develop in the same way as the Western art market. Overall, the Amendments were meant to promote art trade, encourage collectors and gallerists to import art into the country, and facilitate setting up exhibitions, art fairs and auctions in Russia. It remains to be seen whether this latest attempt to lessen regulation will be successful.