Russian Vodka Sales Drop 40% Due to Sanctions

February 16, 2016 Share Print 0

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

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.