The price reduction was timed to coincide with the widespread release of the Radeon RX 7900 GRE.
AMD has reduced the recommended price of the Radeon RX 7700 XT video card. This is the first time the card has been reduced in price since its release; unfortunately, it is not very significant.
Radeon RX 7700 XT fell in price by $30. Since the start of sales, the recommended price of the video card was $449, now it has been reduced to $419. The price reduction for the Radeon RX 7700 XT is timed to coincide with the release of the Radeon RX 7900 GRE outside of China.
And here's another story
The Radeon RX 7900 GRE, which is noticeably superior in performance to the Radeon RX 7700 XT, will retail for $549. Apparently, AMD felt that lowering the price by $30 would make the Radeon RX 7700 XT a better deal.
As VideoCardz notes, some retailers have already reduced the price of the Radeon RX 7700 XT even lower than what AMD is offering. On a number of sites you can find a video card for less than $400.
It can be assumed that over time, the reduction in the recommended price of the Radeon RX 7700 XT will also affect the cost of the video card in Russia, where it is imported as a parallel import. But this is unlikely to happen faster than the already imported batches of video cards are sold out.
This is interesting