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American used vehicle exporting is a grey-market international trade involving the exporting of used vehicles from the United States to international markets.
It's reported that $8 billion worth of used American vehicles were exported in 2021. [1]
In 2015, Carfax issued a warning that used American vehicles exported to Europe may have questionable conditions. [2] Many of them, however, were exported to Lithuania with repairs made there because of the cheap price prior to being sold elsewhere in the EU. [2]
In October 2020, it was reported that most used American-made vehicles are exported to United Arab Emirates as the top export market, followed by Nigeria, Georgia, Mexico, Jordan, Ukraine, Cambodia and the Dominican Republic. [3] In 2021, American vehicles were also exported to Oman, Guatemala, Lithuania and Germany. [4]
Due to sanctions placed on Russia after the start of the Russian-Ukrainian War in 2022, Russians have opted to purchase American vehicles in Georgia since car plants in the country were closed in order to comply with sanctions. [5]
 | This section is missing information about countries that have restrictions on how American vehicles are exported from the US to their territory..(August 2023) |
The Cayman Islands government announced on May 1, 2023 that the cabinet approved, on April 25, 2023, changes in Customs and Border Control (Prohibited Goods) (Amendment) Order, 2023 that restrict the importation of used vehicles from 2016 to 2023. [6] Exceptions are made for classic/antique vehicles and vehicles meant for agricultural work, construction, maintenance or engineering vehicles older than 8 years. [6]
The Verkhovna Rada, in 2006, prohibits imports of used cars that are more than eight years old, except if they're used for humanitarian purposes. [7] Vehicles have to meet at least Euro 2 emission standards and above. [8]
The economy of Georgia is an emerging free market economy. Its gross domestic product fell sharply following the dissolution of the Soviet Union but recovered in the mid-2000s, growing in double digits thanks to the economic and democratic reforms brought by the peaceful Rose Revolution. Georgia continued its economic progress since, "moving from a near-failed state in 2003 to a relatively well-functioning market economy in 2014". In 2007, the World Bank named Georgia the World's number one economic reformer.
Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs has been considered as the fiscal subject that charges customs duties and other taxes on import and export. In recent decades, the views on the functions of customs have considerably expanded and now covers three basic issues: taxation, security, and trade facilitation.
Economic sanctions are commercial and financial penalties applied by states or institutions against states, groups, or individuals. Economic sanctions are a form of coercion that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to compel or deterrence.
Grey import vehicles are new or used motor vehicles and motorcycles legally imported from another country through channels other than the maker's official distribution system or a third-party channel officially authorized by the manufacturer. The synonymous term parallel import is sometimes substituted.
A parallel import is a non-counterfeit product imported from another country without the permission of the intellectual property owner. Parallel imports are often referred to as grey product and are implicated in issues of international trade, and intellectual property.
Relations between the European Union (EU) and the People's Republic of China (PRC) or Sino–European relations are bilateral relations that were established in 1975 between the PRC and the European Community. The EU is the PRC's largest trading partner, and the PRC is the EU's largest trade partner.
The petroleum or oil industry in Russia is one of the largest in the world. Russia has the largest reserves and was the largest exporter of natural gas. It has the sixth largest oil reserves, and is one of the largest producers of oil. It is the fourth largest energy user.
Japanese used vehicle exporting is a grey market international trade involving the export of used cars and other vehicles from Japan to other markets around the world since the 1980s.
Russia supplies a significant volume of fossil fuels to other European countries. In 2021, it was the largest exporter of oil and natural gas to the European Union, (90%) and 40% of gas consumed in the EU came from Russia.
In 2021 Russia was the world's second-largest producer of natural gas, producing an estimated 701 billion cubic meters (bcm) of gas a year, and the world's largest natural gas exporter, shipping an estimated 250 bcm a year. In 2022 the export market was significantly downsized, following the Russian invasion of Ukraine and Russia reducing exports after countries refused to pay in rubles.
International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014. Belarus has also been sanctioned for its cooperation with and assistance to Russian armed forces. The sanctions were imposed against individuals, businesses, and officials from Russia and Ukraine. Russia responded with sanctions against several countries, including a total ban on food imports from Australia, Canada, Norway, Japan, the United States, the EU and the United Kingdom.
Chinese used vehicle exporting is a grey market international trade involving the export of used cars and other vehicles from China to other markets around the world. With 300 million cars in China, Chinese vehicles are now entering the used vehicle market overseas to boost demand for the domestic market.
A global energy crisis began in the aftermath of the COVID-19 pandemic in 2021, with much of the globe facing shortages and increased prices in oil, gas and electricity markets. The crisis was caused by a variety of economic factors, including the rapid post-pandemic economic rebound that outpaced energy supply, and escalated into a widespread global energy crisis following the Russian invasion of Ukraine. The price of natural gas reached record highs, and as a result, so did electricity in some markets. Oil prices hit their highest level since 2008.
The economic impact of the Russian invasion of Ukraine began in late February 2022, in the days after Russia recognized two breakaway Ukrainian republics and launched an invasion of Ukraine. The subsequent economic sanctions have targeted large parts of the Russian economy, Russian oligarchs, and members of the Russian government. Russia responded in kind. A wave of protests and strikes occurred across Europe against the rising cost of living.
Following the full declaration of the Russian invasion of Ukraine, which started on 24 February 2022, institutions such as the United States, the European Union, and other Western countries introduced or significantly expanded sanctions covering Russian President Vladimir Putin, other government members and Russian citizens in general. Some Russian banks were banned from using the SWIFT international payments system. The sanctions and the boycotts of Russia and Belarus have impacted the Russian economy in various ways.
Following the Russian invasion of Ukraine, China's position has been ambivalent. On one hand, it has blamed enlargement of NATO, which Russia has stated as a reason for starting the war. On the other hand, it has stressed respect for Ukraine's territorial integrity. China has not condemned the Russian invasion of Ukraine and has abstained during United Nations votes on the war in Ukraine.
The United States has supported Ukraine during the ongoing Russian invasion of Ukraine. After it began on 24 February 2022, President Joe Biden condemned the invasion, provided military and humanitarian aid to Ukraine, and sanctioned Russia and Belarus, the two countries most involved in invading Ukraine.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on 3 December 2022, the European Union (EU) agreed to cap the price of natural gas in order to reduce the volatility created by Russia in the gas market.
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