Business

Russia's Sanctions Begin to Bite

Carlsberg relies on Russia for 35% of its profits and the Ukraine crisis is beginning to hurt. The Danish brewer has warned operating profit will be lower than last year—shares fell almost 6% as a result. Sanctions are not directly to blame in Carlsberg's case—it's more about Russia's weakening economy. But for other European companies sanctions are starting to bite. Russia is Greek farmers' biggest export market. Last year they sold fruit worth 180 million euros to the country.

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