In March, market participants assumed a decrease in alcohol imports to Russia by 20-40% due to the beginning of the Russian invasion of Ukraine.
According to the results of the first half of 2022, the import of strong alcohol in the Russian Federation as a result of sanctions decreased by almost 35%, to 32.65 million liters, and whiskey – by almost 50%, to 11.8 million liters . This was reported by the Russian edition of Kommersant.
“The pessimistic forecasts of alcohol market participants about a sharp drop in imports due to the crisis related to the military operation of the Russian Federation in Ukraine are justified. According to the results of the first half of year, the import of all strong drinks in the Russian Federation decreased by almost 35%, up to 32.65 million liters, and whiskey – by almost 50%, up to 11.8 million liters. The main reason was the sanctions and the refusal to supply the largest producers. Now the range will be replenished with new Russian drinks, as well as imports of rum, the import of which was hardly affected by the crisis, “said the message.
It was noted that in March, market participants assumed a decrease in alcohol imports to Russia by 20-40% due to the start of the Russian invasion of Ukraine.
Global companies – Pernod Ricard (Chivas Regal, Jameson, Absolut, Ararat), Diageo (Bell’s, Johnnie Walker, Captain Morgan, Baileys), Bacardi (Dewar’s, William Lawson’s) and others – have suspended sales or announced the their departure from Russia.
Recall that the European Commission proposed a seventh package of sanctions against Russia, including an embargo on gold exports.
In addition, the EU is seeing the results of sanctions against the Russian Federation. They are gradually beginning to hit the Russian economy. Russian exports are the hardest hit.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.