Wow, perfect.
Let's take a theoretical.
Say, theoretically, a game was put up without region locking. Who wants the hassle of managing that? And, if a small group of dedicated customers can get around it, well what's the harm.
However, say in the days leading up to a major release, a whole bunch of posts start going up in BST threads featuring the title, and a whole bunch of people recommend people just buy games off of traders...
Then, theoretically, the pub keeps track of the steam data and sees that Russia (usually <10 share) all of a sudden grows to 15%, then 20%, then 25%, and then on the day their big game is to release the Russian share starts the day at over 30%... what do you do then?
Digital games are kind of a perfect storm for this sort of scenario anyway.
- The content is exactly identical regardless of region (whereas with DVDs, emerging markets typically get barebones releases, so the price/feature tradeoff exists),
- The act of "importing" to circumvent regional pricing takes no time because there's no good to ship (compare to the textbook example)
- The consumers are largely highly knowledgeable and tech-savvy and so any advantage that's possible is likely to be taken advantage of (compare to literally any other medium, which is filled with rubes)
- Consumers are extremely price sensitive in part due to market conditions (games last a very long time, there's a glut of new releases, catalogue titles are widely available and cause some substitutionary effect)
- Regional price differences are extreme enough to allow middlemen to actually arbitrage the difference
- Resale/importing can be virtually automated by technical means (actually, they could be completely automated; anyone with a Russian address, bank account, and <$10/month VPS could actually set up an automatic Russian trading bot, it's not even difficult. A mediocre programmer could do it in a day or two. And then the purchasing side is basically as convenient as chatting.)