Invasion Of Ukraine Plunges More Than $30 Million Dollars of Whiskey Exports Into Risk
With Russia expected to be struck globally with economic sanctions following its invasion of Ukraine, 10s of millions of dollars worth of Scottish whisky exports are at risk, according to a report from The Times.
Scotland directly exported about £28 million ($37.5 million) worth of whisky to Russia last year, according to the Scotch Whisky Association.
It is entirely possible that these whisky exports to Russia could halt altogether; it wouldn’t be the first time goods have stopped being imported to Russia from Scotland. In 2014, Russia barred seafood imports from the west — including Scottish salmon — in retaliation to sanctions placed upon it after the country annexed Crimea from Ukraine. That ban is ongoing.
Now that Russia has invaded Ukraine altogether, foreign relations will be even further altered, and the economic impact likely will be drastic.
Scotland exported about £3.3 million ($4.4 million) worth of whisky to the Ukraine in 2019, which, too, could see its imports affected by the invasion. Ukraine, the world’s 16th-largest export market for Scottish salmon, could lose that, too.
“The impact of this despicable act of aggression will reverberate throughout the global economy but our only thought is for the safety of the people of Ukraine and we hope that democracy and peace can prevail,” said Tavish Scott, the chief executive of Salmon Scotland, according to The Times.
According to The National, a Scottish Government spokesperson said: “The Scottish Government unreservedly condemns the invasion of Ukraine by Russia, which is in flagrant violation of international law.
“We are watching the situation closely and call for an immediate cessation of Russia’s aggression, with an assurance of the protection of all civilians within Ukraine.”
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