In March, market participants expected a decrease in alcohol imports to Russia by 20-40% due to the beginning of Russia's 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 is reported by the Russian edition of Kommersant.
“The pessimistic forecasts of alcohol market participants about a sharp drop in imports due to the crisis in connection with the military operation of the Russian Federation in Ukraine are justified. by 35%, to 32.65 million liters, and whiskey – by almost 50%, to 11.8 million liters. The main reason is the sanctions and refusal to supply the largest producers. Now the range will be replenished with new Russian drinks, as well as imports rum, the import of which was almost not affected by the crisis,” the report says.
It is noted that in March, market participants expected a decrease in alcohol imports to Russia by 20-40% due to the start of Russia's 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 about withdrawing from the Russian Federation.
Recall that the Eurocomi Russia has proposed a seventh package of sanctions against Russia, including an embargo on gold exports.
In addition, the EU sees the results of sanctions against the Russian Federation. They are gradually starting to hit the Russian economy. Russia's exports suffered the most.