French champagne trade group fumes over new Russian champagne legislation

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French champagne trade group fumes over new Russian champagne legislation

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PARIS/MOSCOW, July 5 (Reuters) – France’s champagne trade group on Monday blasted a brand new Russian legislation forcing overseas champagne producers so as to add a “glowing wine” reference to their bottles and known as for champagne exports to Russia to be halted.The legislation, signed by Russian President Vladimir Putin on Friday, requires all overseas producers of glowing wine to explain their product as such on the label on the again of the bottle — although not on the entrance — whereas makers of Russian “shampanskoye” could proceed to make use of that time period alone. The French champagne trade group known as on its members to halt all shipments to Russia in the meanwhile and stated the identify “champagne”, which refers back to the area in France the drink comes from, had authorized safety in 120 nations.”The Champagne Committee deplores the truth that this laws doesn’t be certain that Russian shoppers have clear and clear details about the origins and traits of wine,” group co-presidents Maxime Toubart and Jean-Marie Barillere stated in an announcement.French Commerce Minister Franck Riester stated he was monitoring the brand new Russian legislation carefully, in touch with the wine trade and France’s European companions.”We are going to unfailingly assist our producers and French excellence,” he stated on Twitter.Moet Hennessy, the LVMH-owned French maker of Veuve Clicquot and Dom Perignon champagnes, stated on Sunday it could start including the designation “glowing wine” to the again of bottles destined for Russia to adjust to the legislation.LVMH (LVMH.PA) shares have been down round 0.2% on Monday afternoon, underperforming the Paris bourse, which was up 0.34%.Shares in Russian glowing wine maker Abrau-Durso (ABRD.MM) have been up greater than 3% after rising as a lot 7.77% in early commerce.Abrau-Durso president Pavel Titov informed Radio France Internationale on Saturday his agency doesn’t have glowing wines that may be known as “champagne” in its portfolio and stated he hoped the problem can be resolved in favor of worldwide norms and requirements.”It is extremely necessary to guard the Russian wines on our market. However the laws should be affordable and never contradict frequent sense … I’ve no doubts that the actual champagne is made within the Champagne area of France,” he stated.Reporting by Sudip Kar-Gupta and Leigh Thomas in Paris and Alexander Marrow in Moscow;
Writing by Geert De Clercq
Modifying by Alison Williams, Andrea Ricci and Catherine EvansOur Requirements: The Thomson Reuters Belief Rules.

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