President Vladimir Putin on Tuesday raised the prospect of a further increase in beer taxes as part of the government's long-running campaign to curb drinking.
"Beer alcoholism is a serious problem. … We could raise beer taxes further," Putin said at a forum of pro-Kremlin youth groups. At the beginning of 2012, taxes on beer rose by 20 percent, and according to a Finance Ministry plan approved late in 2011, they will rise by a further 25 percent in 2013 and 20 percent in 2014.
Shares in Danish brewer Carlsberg, which earns nearly half its profits from the Russian market, closed down 4.98 percent Tuesday.