Especially with digital distribution, some regions of the world receive different pricing for the same content based on what their target market is capable of paying for it. On Steam, most regions are just about equivalent to their exchange rate with the US dollar. There are a few, most notably Russia, that receive steep price cuts (because the increase in expected customers outweighs the decrease per unit).
This leads some thrifty people to purchase keys that were intended for other, lower-cost regions. Recently, Valve has adjusted the Steam back-end to block gifting from certain, reduced-price regions to other regions. It does not affect existing purchases, only new ones. This also might not be their final decision, as Valve claims that they are still “assessing the market”, according to PC Gamer. This currently applies to: Russia, the Commonwealth of Independent States, Malaysia, Thailand, Indonesia, the Philippines, Turkey, Brazil, Mexico, and Singapore.
I am quite… conflicted on this decision.
On the one hand, I believe that moving a game from one region to another should be acceptable. Unless Steam requires that users (or gift givers of unactivated keys) declare that the license is intended for members of a given region, which could be fraud to lie about, then I cannot see any reasonable way to prevent this. On the other hand, I find Valve's method to be fair and targeted, even though it is relying upon DRM to restrict user access.
What do you think? Tell us in the comments! (Registration is not required)