diff --git a/python/src/com/jetbrains/python/inspections/PyRedundantParenthesesInspection.java b/python/src/com/jetbrains/python/inspections/PyRedundantParenthesesInspection.java
index e2b622c6cd18..fb793233f4ad 100644
--- a/python/src/com/jetbrains/python/inspections/PyRedundantParenthesesInspection.java
+++ b/python/src/com/jetbrains/python/inspections/PyRedundantParenthesesInspection.java
@@ -83,6 +83,7 @@ public class PyRedundantParenthesesInspection extends PyInspection {
     @Override
     public void visitPyParenthesizedExpression(final PyParenthesizedExpression node) {
       if (node.textContains('\n')) return;
+      if (node.getParent() instanceof PyParenthesizedExpression) return;
       final PyExpression expression = node.getContainedExpression();
       if (expression == null) return;
       final PyYieldExpression yieldExpression = PsiTreeUtil.getParentOfType(expression, PyYieldExpression.class, false);
diff --git a/python/testData/inspections/PyRedundantParenthesesInspection/NestedParentheses.py b/python/testData/inspections/PyRedundantParenthesesInspection/NestedParentheses.py
new file mode 100644
index 000000000000..a2e8576c830f
--- /dev/null
+++ b/python/testData/inspections/PyRedundantParenthesesInspection/NestedParentheses.py
@@ -0,0 +1 @@
+x = (<weak_warning descr="Remove redundant parentheses">((42))</weak_warning>)
\ No newline at end of file
diff --git a/python/testSrc/com/jetbrains/python/inspections/PyRedundantParenthesesInspectionTest.java b/python/testSrc/com/jetbrains/python/inspections/PyRedundantParenthesesInspectionTest.java
index 7b3459ac69c5..43d427ceb2bf 100644
--- a/python/testSrc/com/jetbrains/python/inspections/PyRedundantParenthesesInspectionTest.java
+++ b/python/testSrc/com/jetbrains/python/inspections/PyRedundantParenthesesInspectionTest.java
@@ -15,7 +15,6 @@
  */
 package com.jetbrains.python.inspections;
 
-import com.intellij.testFramework.ExpectedHighlightingData;
 import com.jetbrains.python.fixtures.PyInspectionTestCase;
 import com.jetbrains.python.psi.LanguageLevel;
 import org.jetbrains.annotations.NotNull;
@@ -56,7 +55,7 @@ public class PyRedundantParenthesesInspectionTest extends PyInspectionTestCase {
   }
 
   public void testTryExcept() {
-    ExpectedHighlightingData.expectedDuplicatedHighlighting(this::doTest);
+    doTest();
   }
 
   public void testTryExceptNegate() {
@@ -93,4 +92,9 @@ public class PyRedundantParenthesesInspectionTest extends PyInspectionTestCase {
   public void testReturn() {
     runWithLanguageLevel(LanguageLevel.PYTHON35, this::doTest);
   }
+
+  // PY-33266
+  public void testNestedParentheses() {
+    doTest();
+  }
 }