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.
