Borjomi suspended the production of mineral water due to sanctions

IDS Borjomi, which produces Borjomi mineral water, has been suspending production since April 29 due to sanctions against Russia. It is reported by RBC with reference to Georgian television.

The company’s message says that since the beginning of the military special operation, IDS Borjomi Georgia has been in a difficult situation – access to bank accounts is now limited, so it is not possible to receive proceeds in foreign currency and pay creditors.

The company expressed hope that the production of mineral water will be restored sooner or later.

Against the backdrop of the suspension of bond production, companies on the Moscow Exchange began to show a sharp drop.

The Borjomi brand has been owned by the Russian Alfa Group since 2013. Alfa-Bank, which is part of the group, came under EU sanctions at the end of February.

In March, it was reported that Borjomi mineral water would disappear from the shelves of Estonian retail chains.

Recall that on February 24, 2022, Russian President Vladimir Putin made an emergency appeal to the Russians and announced the start of a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” The goals of the special operation were called “demilitarization and denazification” of Ukraine.

In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.

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