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The Moscow Times, Russia
Sept 4 2014
Fearing Sanctions, French Distillery Boosts Deliveries of Absolut
Vodka to Russia
The Moscow Times
Sep. 04 2014 16:31
French distillery Pernod Ricard, maker of Absolut vodka and Jameson
Irish whiskey, is stepping up exports to Russia to insure itself
against possible retaliation by Moscow to Western sanctions over the
crisis in Ukraine, the Financial Times reported.
"We are importing as much as we can for our [Russian] inventories
because an embargo or retaliatory action could happen any time," the
company's chief executive, Pierre Pringuet, told the paper earlier
this week.
Extra supplies of Jameson Irish whiskey, Ballantine's scotch, Absolut
vodka and wines are on their way.
This week, EU leaders are expected to announce more sanctions against
Moscow over Russia's actions in Ukraine, where the west accuses it of
supporting separatists in a civil war. In its first retaliation to
sanctions last month, Russia banned about food imports from Western
countries worth about $9 billion annually.
Only one of Pernod Ricard's products seems safe from a new ban,
Pringuet said -- Ararat brandy, which Pernod Ricard produces in
Armenia. This brand brings in a third of Pernod Ricard's revenues in
Russia, according to FT.
http://www.themoscowtimes.com/business/article/fearing-sanctions-french-distillery-boosts-deliveries-of-absolut-vodka-to-russia/506448.html
Sept 4 2014
Fearing Sanctions, French Distillery Boosts Deliveries of Absolut
Vodka to Russia
The Moscow Times
Sep. 04 2014 16:31
French distillery Pernod Ricard, maker of Absolut vodka and Jameson
Irish whiskey, is stepping up exports to Russia to insure itself
against possible retaliation by Moscow to Western sanctions over the
crisis in Ukraine, the Financial Times reported.
"We are importing as much as we can for our [Russian] inventories
because an embargo or retaliatory action could happen any time," the
company's chief executive, Pierre Pringuet, told the paper earlier
this week.
Extra supplies of Jameson Irish whiskey, Ballantine's scotch, Absolut
vodka and wines are on their way.
This week, EU leaders are expected to announce more sanctions against
Moscow over Russia's actions in Ukraine, where the west accuses it of
supporting separatists in a civil war. In its first retaliation to
sanctions last month, Russia banned about food imports from Western
countries worth about $9 billion annually.
Only one of Pernod Ricard's products seems safe from a new ban,
Pringuet said -- Ararat brandy, which Pernod Ricard produces in
Armenia. This brand brings in a third of Pernod Ricard's revenues in
Russia, according to FT.
http://www.themoscowtimes.com/business/article/fearing-sanctions-french-distillery-boosts-deliveries-of-absolut-vodka-to-russia/506448.html