Stock Groups

France and Russia plan talks to take fizz out of champagne dispute By Reuters

[ad_1]

© Reuters. FILE PHOTO: Bottles of Moet & Chandon and Veuve Clicquot French champagne are seen in this illustration picture taken July 5, 2021. REUTERS/Shamil Zhumatov/Illustration/File Photo/File Photo

PARIS (Reuters) – France and Russia have agreed to talks to resolve a dispute over a new Russian law that forces French champagne makers to label their bottles as sparkling wine, the French agriculture ministry said on Saturday.

Every foreign supplier to Russia has been required since July to include the label “sparkling wine” on all bottles. The label “shampanskoye”, the Russian equivalent to champagne, can only be used by local producers.

French champagne producers were furious at this law and stopped shipments to Russia. French authorities threatened action at World Trade Organisation.

Julien Denormandie (French Agriculture Minister) stated that he was willing to cooperate with Sergey Levin, Russia’s deputy agriculture minister.

A ministry spokesperson said that this would include the creation of a working party consisting of officials from each country and representatives from industry.

This move follows French champagne producers who produce sparkling wine using grapes from the Champagne region in northeast France. Their label is currently protected in several countries.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]