Ban on Fine Wine Exports to Russia to Hit French Producers Hard, Italian Winemaker Says
"At first we were afraid that exports to Russia would be completely banned. I don't want to say that wine is equal to gas, but it's bad to live without wine. It's not a luxury, it's a part of tradition. We are the biggest exporter to Russia with a 33% share of the market, and I doubt that Russian wine would be enough to substitute European wine, which amounts to 9 million hectolitres. Crimea produces less wine, even though it is good", the expert said.
"I assume that this measure was introduced by the European Council in order to hit the luxury segment rather than household goods. If the 300-euro threshold per bottle is confirmed, French producers will suffer the most. We are talking about Burgundy wines and the so-called superwines, but there are very few of them. Italian wines, on the other hand, are sold at an average price of 3 euros a litre", the winemaker said.