Borjomi Company announces suspension of bottling mineral water due to sanctions

From April 29 on, the "IDS Borjomi Georgia" Company has been forced to temporarily suspend the production process at both Borjomi mineral water bottling plants, the "InterPressNews" has reported referring to the company's statement.

The suspension is caused by the ongoing conflict in Ukraine. "We inform you that since the start of hostilities in Ukraine, the 'IDS Borjomi Georgia' has found itself in a difficult situation. Apart from the difficulties with the sale of the company's products in the main markets, we face a limited access to bank accounts, which has blocked the company's foreign money profit and the ability to pay the creditors. Until today, the company continued operating in the hope of a significant improvement in the situation, which, unfortunately, has not yet been the case," the "InterPressNews" quotes the company as stating.

The "IDS Borjomi Georgia" is part of the "IDS Borjomi International", in which a 60% share is owned by the "Alfa Group", founded by the Russian businessman, Mikhail Fridman, who fell under sanctions imposed by Western countries due to the situation in Ukraine, the TASS has reported.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on April 29, 2022 at 08:30 pm MSK. To access the full text of the article, click here.