Ararat brandy exports to Russia to be continued 

ArmInfo.The Ararat brandy is supplied to Russia under contracts with the producer currently in  effect. Further supplied are planned as well. A way out will be found  in case of problems, Ernest Khachaturian, Chief Executive Officer,  Luding Group, said on the sidelines of the Saint Petersburg  International Economic Forum. 

Late this May, the company reported Pernod Ricard had not informed it  of suspending exports to Russia and cooperation in supplying the  Ararat brandy. So Luding Group continues supplies to Russia. 

"The contracts currently in effect are being executed. And we intend  to find a way out later. The French producer had for a long period  built up its relations with both Russia and Armenia," Mr Khachaturian  said. 

Foreign companies wish to remain in Russia's market, and the ones  that had to leave it are waiting for a chance to return. 

"No one is ready to lose the Russia's vast market. All of them try  rebranding, find opportunities to import products in demand here. Of  course, they want to keep their clients here and, when possible  return to the largest market, including the market of alcoholic  beverages," Mr Khachaturian said. 

In mid-May, Pernod Ricard reported it stopped exports to Russia late  in April. The company's portfolio includes dozens of brands, such as  Chivas Regal, Jameson, Ballantine's, Absolut, Olmeca, Havana and  Ararat.  

In mid-May, Armenia's Minister of Economy Vahan Kerobyan reported the  Yerevan Brandy Company owned by Pernod Ricard could stop exporting  its products to Russia.