June 3, 2022 — The future of the Russian seafood market remains unclear as the country’s invasion of Ukraine continues, with a decline of household incomes forcing a rebuild of business models in premium segments.
The economic uncertainty that emerged in late February and early March due to sanctions imposed on Russia in response to its invasion of Ukraine led the government to quickly tighten its control over consumer markets. The Russian ruble also heavily depreciated against the euro and U.S. dollar, which coincided with an exodus of major Western brands from Russia, all of which have hurt economic stability and impacted consumer behavior.
Read the full story at SeafoodSource