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FMCG Giants Could Face Repercussions From US-Russia Sanctions: Analysis

Published on Aug 10 2018 2:59 PM in A-Brands tagged: Trending Posts / Russia / PepsiCo / Philip Morris / Johnson & Johnson / Moscow / Sanctions / Mondelez International / Paywall

FMCG Giants Could Face Repercussions From US-Russia Sanctions: Analysis

The Kremlin has said that a new batch of sanctions on Moscow announced by the United States is illegal under international law and that Russia's financial system was stable.

Washington said earlier this week it was imposing fresh sanctions on Russia by the end of August after determining that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, something the Kremlin denies.

Kremlin spokesman Dmitry Peskov, speaking to reporters on a conference call, said the US move was "absolutely unfriendly," but said Moscow continued to hope that for an improvement in battered US-Russia relations.

However, the sanctions, and the possible response from Russia could impact several major US-based FMCG firms, which have a significant, and in many cases growing, presence in the country.

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