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Fearing Sanctions, French Distillery Boosts Deliveries of Absolut Vodka to Russia

Published: September 5, 2014 (Issue # 1827)



  • The Absolute Vodka distillery in Ahus, Sweden, which was acquired by Pernod in 2008.
    Photo: Wikimedia Commons

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 the FT.





 


ALL ABOUT TOWN

Tuesday, Oct. 21


The Environment, Health and Safety Committee of AmCham convenes this morning at 9 a.m. in the organization’s office.


Take the opportunity to pick the brains of Dmitry V. Krivenok, the deputy director of the Economic Development Agency of the Leningrad region, and Mikhail D. Sergeev, the head of the Investment Projects Department, during the meeting with them this morning hosted by SPIBA. RSVP for the event by emailing office@spiba.ru before Oct. 17 if you wish to attend.


Improve your English at Interactive English, the British Book Center’s series of lessons on vocabulary and grammar in an informal atmosphere. Starting at 6 p.m., each month draws attention to different topics in English, with the topic for this month’s lessons being “visual arts.”



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