Russian Vodka Sales Drop 40% Due to Sanctions

Exports of Russian vodka slumped more than 40% last year, according to a report in Russian business newspaper Kommersant.

It was the lowest level in a decade, the paper said, the result of Western sanctions imposed because of the conflict in Ukraine.

Revenues from the exports of vodka and other spirits slumped 40% to $111.9 million, Kommersant said, citing official customs data.
Shipments to the U.K., the biggest export market for Russia’s vodka, were down 35% in 2015. Sales to the U.S. dropped 22%.

The newspaper said exports of Russian vodka were down in every market, but shipments to Ukraine dropped the most — by 70%. The relationships between Moscow and Kiev remain strained after Russia annexed Crimea in 2014.

via CNN

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.