18 Apr 2023 17:52

Absolut Vodka manufacturer to cease exports to Russia

MOSCOW. April 18 (Interfax) - Sweden's Absolut Company, part of French Pernod Ricard, is ceasing exports of its products to Russia, the company said in a statement.

Last week, Swedish media indicated that the company would be partially reviving shipments of its products to the Russian market.

This caused a public outcry in Sweden, the alcohol producer said. "While recognizing the responsibility we have to take care of our employees and partners, we cannot subject them to mass criticism. Therefore, Absolut has decided to stop exporting its brand to Russia," the message said.

According to the SPARK-Interfax system, the revenue of Pernod Ricard's subsidiary, P.R. Rus, in 2020 (no later data available) was 20.64 billion rubles, with net profit of 1.3 billion rubles.

Absolut produces various alcohol brands, including Absolut vodka, Malibu rum, and Kahlua liqueur, etc.

Earlier, Diageo (brands Johnnie Walker, Baileys), Brown Forman (Jack Daniel's, Finlandia), LVMH (Hennessy, Moet & Chandon, Bacardi) also announced they were suspending deliveries or withdrawing from the Russian market.