Moet to Label Its Champagne Sparkling Wine in Russia to Meet Law
(Bloomberg) --
The Champagne houses of Moet Hennessy will soon include a “sparkling wine” mention on their bottles shipped to Russia to respect a new law that reserves the name of the French region for bubbly wines made in the former Soviet country.
The legislative change that requires the “sparkling wine” mention on the label on the back of Champagne bottles is leading to a “very temporary suspension of deliveries” to adjust from a logistics and regulatory point of view, Moet Hennessy -- part of luxury group LVMH -- said in a statement to Bloomberg on Sunday. Shipments will resume as soon as possible, once these adjustments are made.
It's not the first time that food has got caught up in tensions between Russia and other countries. President Vladimir Putin's administration banned tomatoes from Azerbaijan last year following a 44-day war waged by the South Caucasus state against Moscow ally Armenia.
It also introduced a food embargo banning products from Dutch Gouda cheese to Italian Parmesan for sanctions imposed after the 2014 annexation of Crimea. The restrictions have been a boon to some producers in Russia.
©2021 Bloomberg L.P.
-
India's Troika Of Good Luck | Joining The Dots
A weaker Trump, a cooling AI trade and resilient earnings have put Indian markets back in favour. Rising inflation could spoil the party.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
