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Pernod Ricard Sells Imperial Blue for ₹4,150 Crore, Warns Maharashtra’s 50% Excise Duty Could Hit Q1 Sales

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Pernod Ricard Sells Imperial Blue for ₹4,150 Crore, Warns Maharashtra’s 50% Excise Duty Could Hit Q1 Sales

Pernod Ricard is betting on India’s long-term promise even as higher taxes in Maharashtra threaten to dent near-term sales. The French spirits major, maker of Chivas Regal and Absolut, expects its recent sale of Imperial Blue whisky to deliver immediate margin and growth benefits in the country, its second-largest market worldwide.

Global chief executive Alexandre Ricard told analysts on Friday that while consumer appetite for premium liquor in India remains robust, Maharashtra’s June decision to raise excise duties on Indian-made foreign liquor by 50 percent will weigh on sales this year, particularly in the first quarter. “The underlying demand is still very strong, and premiumisation trends are dynamic. But the excise policy changes will significantly impact volumes in one of our top states,” Ricard said.

India contributed 13 percent of Pernod Ricard’s global sales in the year ended June, growing 6 percent overall. Stripping out Imperial Blue, revenues rose 8 percent. The group offloaded Imperial Blue, its second-largest whisky in India, to Tilaknagar Industries in July for ₹4,150 crore in cash as part of a global restructuring plan.

Chief financial officer Helene de Tissot added that India remains a “must-win market” for the company, with expectations of renewed momentum by fiscal 2026. Pernod will continue to rely on premium brands such as Royal Stag and Glenlivet to drive growth as pricing pressure plays out in Maharashtra.

The state’s duty hike has sharply raised retail prices of spirits, although beer and wine were left untouched. Rival Diageo recently noted that alcohol consumption in Maharashtra still recorded double-digit growth despite higher duties, but warned that consumer spending needs to rise 30–35 percent to offset the increase.

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PepsiCo Pumps $585M into Celsius, Hands Over Rockstar in US and Canada, Bets Big on 3-Brand Energy Play

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PepsiCo Pumps $585M into Celsius, Hands Over Rockstar in US and Canada, Bets Big on 3-Brand Energy Play

PepsiCo is tightening its grip on the fast-growing energy drinks market with a fresh $585 million investment in Celsius Holdings, lifting its stake in the company to 11 percent. The deal, announced Friday, also reshapes the energy portfolio in North America, with Celsius set to acquire PepsiCo’s Rockstar Energy brand in the United States and Canada.

Celsius will now oversee three distinct labels for PepsiCo in the US: its own Celsius line, the female-focused Alani Nu, and the more traditional Rockstar Energy. PepsiCo, meanwhile, will spearhead distribution for the Celsius portfolio, unlocking deeper retail reach across major chains.

“This positions Celsius as the energy captain within PepsiCo’s system in the US,” said Celsius CEO John Fieldly, noting that Alani Nu’s migration to PepsiCo’s distribution platform will eliminate the need for the 250 independent distributors it currently relies on. The move is expected to cut costs, improve efficiency, and accelerate the brand’s growth among young women. Adding Rockstar, he said, ensures Celsius can address every corner of the energy drink spectrum—from health-conscious consumers to core energy loyalists.

PepsiCo first bought into Celsius in 2022 with a $550 million preferred stock investment, giving it an 8.5 percent stake. The latest deal extends the conversion period of that earlier tranche and grants PepsiCo an additional board nomination. While PepsiCo retains ownership of Rockstar Energy outside North America, the transfer of the brand’s US and Canada operations to Celsius consolidates strategy in the world’s most competitive energy market.

Industry watchers view the move as a potential stepping stone toward a full takeover of Celsius. Fieldly declined to speculate but acknowledged that the structure mirrors other long-term alignments seen in the beverage sector.

With Celsius’ rapid rise, Alani Nu’s niche appeal, and Rockstar’s established presence, PepsiCo appears to be building a three-pronged push to challenge Monster and Red Bull on home turf.

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“How Profitable Is an Ice Cream Parlour in India? Breaking Down Margins, Costs, and Models from Amul to Naturals”

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How Profitable Is an Ice Cream Parlour in India? Breaking Down Margins, Costs, and Models from Amul to Naturals

In a country where food is both culture and celebration, ice cream holds a special place. From Amul’s affordable cones to Naturals’ fruit-forward scoops and Baskin Robbins’ global indulgence, the Indian ice cream industry has evolved into a ₹26,800 crore market, growing at 13–15% annually. For entrepreneurs, the obvious question is: how profitable is running an ice cream parlour in India? The answer lies in margins, location strategy, and smart operations.

The Business Model: Small Shop, Big Margins

Unlike many food ventures, ice cream enjoys naturally high gross margins—often 60–70%. The cost of raw materials (milk, sugar, flavors) is relatively low compared to the selling price of a scoop. A single scoop priced at ₹60–₹100 can be produced for less than half that cost, leaving room for attractive profits.

However, profitability is not uniform. A high-street parlour in a metro may pull 200–300 bills a day, while a Tier-2 city outlet might average 80–100. Footfall, pricing power, and delivery partnerships largely determine real earnings.

Example: Naturals built its ₹400+ crore business by keeping costs low, sourcing seasonal fruits locally, and focusing on repeat neighborhood customers.

Investment and Break-Even

Starting an ice cream parlour typically requires:

  • ₹5–8 lakh for a small kiosk or cart
  • ₹20–30 lakh for a branded parlour with seating

Most businesses aim to break even within 12–18 months, provided location and operations are managed well. Delivery-first kitchens—popular in metros—have even lower setup costs but rely heavily on aggregator commissions.

Tip: Entrepreneurs should keep a working capital buffer for 6 months to handle rent, salaries, and seasonal dips.

Seasonality and Scope

Traditionally, ice cream was seen as a summer indulgence. But with delivery platforms, quick-commerce, and product innovation (winter-friendly sundaes, waffles, hot brownie combos), parlours are now year-round businesses. Demand spikes during festivals, family celebrations, and late-night snacking occasions, making it less seasonal than before.

Franchises from Amul, Baskin Robbins, and Havmor are expanding aggressively in Tier-2 and Tier-3 cities, highlighting how much headroom exists beyond metros. The scope is significant: India’s per capita ice cream consumption is still a fraction of Western markets, meaning there’s plenty of room for growth.

Challenges to Watch

While the opportunity is attractive, challenges exist:

  • High competition in metros with too many parlours clustered together
  • Aggregator dependence reducing delivery margins
  • Wastage due to improper cold chain management
  • Weather volatility—monsoons can dent walk-in sales

Smart entrepreneurs counter this by diversifying menus (adding shakes, sundaes, coffee), creating loyalty programs, and investing in reliable freezers and backup power.

The Sweet Bottom Line

So, how profitable is the ice cream parlour business in India? With the right mix of location, product innovation, and efficient operations, margins are among the best in the food and beverage sector. The scope is growing, franchising options are plenty, and customer love for ice cream remains timeless.

For anyone looking to enter the food business, an ice cream parlour offers the rare combination of relatively low risk, quick break-even, and a product that never goes out of demand. In short: if you can scoop it smartly, profits will follow.

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House of Beauty Bets Big: Kylie to Add 50 New SKUs, ABH Revenue to Double, Max Factor Taps Tier II & III as Group Eyes 100% Growth in FY26

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House of Beauty Bets Big: Kylie to Add 50 New SKUs, ABH Revenue to Double, Max Factor Taps Tier II & III as Group Eyes 100% Growth in FY26

House of Beauty (HOB), the distributor of Anastasia Beverly Hills (ABH), Kylie Cosmetics and Max Factor in India, is preparing for an ambitious run in FY26 with plans to double its business, powered by aggressive offline and online expansion.

The company already operates more than 250 counters across its three international labels and is present on 10 digital marketplaces. ABH currently accounts for over half of HOB’s revenue, but CEO Rahul Shanker believes the balance is shifting. “Kylie is expanding from a smaller base at an exponential pace. Within the next year it should come very close to ABH in scale,” he said.

The strategy is clear: Kylie, once limited to Sephora, has now rolled out on Reliance Retail’s Tira and will soon debut on Nykaa. ABH, which has been the anchor brand, is strengthening through Nykaa offline and quick commerce, while Max Factor is being pushed deeper into tier II and tier III markets via Lifestyle and an affiliate-driven network.

On the product side, Kylie will see more than 50 new stock keeping units (SKUs) by the end of this fiscal, ranging from lip kits to complexion products. ABH is set to expand its blush and lipstick categories in line with global launches, while Max Factor will sharpen its positioning in affordable premium makeup for emerging cities.

HOB is also leaning on geography. North India has emerged as a top 10 region for both Kylie and ABH, while Delhi and Mumbai continue to dominate tier I sales. Beyond metros, Max Factor is expected to be the growth engine.

Marketing spends remain tightly focused on trend-led launches and influencer-driven buzz. Alongside these brands, HOB owns Boddess and The Honest Tree, though expansion is on hold. Shanker confirmed talks are underway to add at least one new international label this year.

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Amazon and Flipkart Unleash Festival War Chest: New FCs in Delhi, Patna, Varanasi, Agartala, 3.7 Lakh Hires to Handle Record Orders

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India’s online retail giants are gearing up for their busiest quarter, expanding warehouses and adding lakhs of temporary workers ahead of the annual festive sale season. Amazon and Flipkart said on Wednesday that they have together created over 3.7 lakh seasonal roles while setting up new fulfilment centres and last-mile hubs to handle the surge in orders expected around Diwali.

Amazon has opened 12 fulfilment centres across cities such as Delhi-NCR, Bengaluru, Kolkata, Hyderabad, Thane, and Visakhapatnam, along with six sortation facilities in locations including Trivandrum, Prayagraj, and Gorakhpur. The new capacity adds 8.6 million cubic feet of storage, with several cities like Hubballi and Hooghly receiving Amazon fulfilment centres for the first time. Executives said this expansion is aimed at placing inventory closer to customers in Tier-2 and Tier-3 towns, trimming delivery timelines during peak demand.

Flipkart is following suit with new sites in Uttar Pradesh, Bihar, Haryana, and Tripura. Its flagship additions include a 2 lakh sq. ft. centre in Varanasi creating 3,600 jobs, a 4.5 lakh sq. ft. facility in Patna servicing 1,000 pincodes with 1,100 jobs, and a 140-acre distribution hub at Manesar expected to employ 10,000 people. The Walmart-owned company also launched its first grocery fulfilment centre in Agartala, capable of shipping 5,000 daily orders, while new warehouses in Guwahati and Singur strengthen its eastern India reach.

Alongside large warehouses, Flipkart has scaled its quick commerce network to nearly 400 micro-fulfilment centres across 19 cities. Its instant delivery service, Flipkart Minutes, has seen order volumes double every 45 days since launch.

Industry trackers say these pre-festive logistics bets highlight how deeply Amazon and Flipkart are investing in speed, scale, and reach to capture India’s e-commerce gold rush this season.

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Himalaya Wellness Revamps Neem Line, Launches Serum; Targets Gen Z in India’s 25–30% Penetrated Facewash Segment

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Himalaya Wellness Revamps Neem Line, Launches Serum; Targets Gen Z in India’s 25–30% Penetrated Facewash Segment

Himalaya Wellness is reworking its skincare playbook around its flagship Neem line, hoping to strengthen relevance among Gen Z consumers while pushing into premium categories and faster delivery formats.

The company, which launched its Neem facewash nearly 25 years ago, says the variant remains its lead contributor, accounting for over 30 percent of its face care portfolio. Rajesh Krishnamurthy, Business Director for Consumer Products, said the reformulated facewash now carries a five-part Neem extract designed to address recurring acne, an issue increasingly common among young urban consumers. The expansion will also see new extensions including scrubs, packs and a Neem serum set to roll out shortly.

India’s facewash penetration is currently just 25 to 30 percent, leaving room for significant headroom. Himalaya holds between 20 and 30 percent share by volume in this category and is targeting a 300 to 400 basis points gain over the next two to three years.

Premiumisation is another priority. Alongside Neem, Himalaya is introducing Turmeric-based facewash for dark spots and Vitamin C formulations aimed at skin brightening, supported by Aloe Vera and men’s skincare ranges. “Urban markets are showing clear signals of consumers trading up, and we will place sharper bets where the opportunity exists,” Krishnamurthy said.

Distribution continues to remain a strength with Neem products available across 95 percent of outlets nationwide. Online, the channel now contributes 12 to 14 percent of sales, with quick commerce emerging as the fastest-growing lever, making up 30 percent of digital revenues. The brand says the format is particularly well-suited for metro consumers willing to spend on premium launches.

By leaning on influencer-driven campaigns, digital-first communication, and a science-backed positioning, Himalaya is betting on Neem’s legacy while chasing a more style-conscious generation of skincare buyers.

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U.S. Tariff Shock: $48B Indian Exports at Risk as Piyush Goyal Pitches Diversification Drive Across 40 Nations

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U.S. Tariff Shock: $48B Indian Exports at Risk as Piyush Goyal Pitches Diversification Drive Across 40 Nations

India is moving quickly to shield its exporters after Washington’s surprise tariff hike that doubled duties on Indian goods to as high as 50 percent this week. Trade Minister Piyush Goyal on Friday confirmed that the government is preparing a multi-pronged plan to diversify export markets while simultaneously boosting domestic consumption to cushion industries facing the brunt of the move.

The higher U.S. tariffs, effective August 27, are expected to hit Indian shipments worth over 48 billion dollars. Apparel, textiles, gems and jewellery, shrimp, footwear, animal products, chemicals, and electrical machinery are among the most exposed categories. The U.S. currently accounts for nearly one-fifth of India’s 437.4 billion dollars in merchandise exports, making it New Delhi’s single largest trade partner since 2022.

Officials said India is drawing up targeted outreach programmes in 40 countries ranging from traditional markets like the UK, Japan and South Korea to emerging destinations such as Russia and the UAE. The strategy involves mounting trade delegations, participating in fairs and exhibitions, and hosting buyer-seller meets under a unified “Brand India” banner. Export Promotion Councils have been tasked with conducting market mapping and linking production clusters with demand hotspots abroad.

Together, these 40 markets import more than 590 billion dollars’ worth of textiles and apparel annually, while India’s share remains only 5 to 6 percent. Officials see this as the single biggest opportunity to reposition India as a reliable source of sustainable and innovative textile products.

The commerce ministry will also meet industry leaders across sectors, including chemicals and jewellery, to discuss market diversification plans. Parallelly, work is underway on the Export Promotion Mission announced in the Union Budget for FY26, which is expected to give exporters structured support in navigating global trade turbulence.

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Should You Invest in an Ice Cream Franchise in India? Breaking Down Amul, Baskin Robbins and Havmor Models

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From Amul to Baskin Robbins: The Real Scope of Ice Cream Franchises in India’s ₹26,800 Crore Market

India’s ice cream business mixes nostalgia with new-age demand—and franchising sits squarely at the sweet spot. The market reached about ₹26,800 crore (INR 268 billion) in 2024 and is forecast to compound robustly through the next decade, powered by hotter summers, rising disposable incomes, and premium/health-forward formats. For first-time founders who want brand pull without reinventing the wheel, a franchise can be a faster, lower-risk entry versus building from scratch. IMARC GroupMarkNtel AdvisorsRenubClaight

Why franchises work in this category

Indian ice cream is increasingly a 12-month business thanks to delivery and quick commerce, which flatten seasonality and expand late-night and impulse occasions. Platforms like Swiggy/Zomato and dark-store networks have widened access, especially in Tier-2/3 cities, boosting delivery-led sales and subscriptions. For franchisees, this means multiple revenue lanes—dine-in scoops, take-home tubs, delivery bundles, and festival gifting—riding on national brand awareness and tested menus. Claight

Market outlook: big, growing, multi-format

  • Size & growth: Research houses peg the India market at USD ~$3–3.5B in 2024, with double-digit CAGR into the 2030s—healthy headroom for new outlets in under-served neighborhoods and highways. MarkNtel AdvisorsClaight
  • Formats with traction: High-street scoop shops in dense residential areas, mall kiosks for footfall spikes, and delivery-first “micro parlours” with smaller footprints and higher freezer:seating ratios.
  • Menu innovation: Indianized flavors (tender coconut, paan, gulkand), vegan/sugar-free SKUs, and premium hand-crafted lines help lift average ticket sizes while keeping classics for volume.

What it costs (brand examples)

Outlay varies by city, size, and brand, but public references give a ballpark:

  • Amul (multiple formats) cites roughly ₹2 lakh for small kiosks and ~₹6 lakh for ice-cream scooping parlours (excluding real estate deposits and incidentals). Margins differ by category; ice cream typically carries higher % margins than milk. Amul+1
  • Baskin Robbins and Havmor invite franchise enquiries; independent listings indicate low-to-mid teens lakhs as a common starting band for branded kiosks, scaling up for larger parlours. Always verify current fee, equipment package, and working capital with the brand before committing. baskinrobbinsindia.comhavmor.comfranchisemart.inFranchise Discovery

Working capital: plan for opening stock, staff salaries, utilities, marketing, and at least 3–6 months of rent. Delivery commissions and aggregator discounts should be modeled conservatively in your P&L.

Location & seasonality: the operating reality

  • Catchment first: 8–12 minute walk-time radii near tuition hubs, colleges, parks, and family dining clusters outperform. Evenings and weekends are peak—ensure visibility, lighting, and easy parking.
  • Weather swings: Early monsoons can dent urban summer spikes; rural/semi-urban demand often stays resilient. A strong delivery mix and winter-friendly SKUs (hot brownies + ice cream, sundaes, waffles) smoothen sales. The Economic TimesThe Times of India

Unit economics: what “good” can look like

While each brand varies, healthy parlours often target:

  • Gross margins: Ice cream typically supports high product margins; track melt/wastage and portion control.
  • Throughput: 150–300 bills/day in peak months for high-street outlets; 30–50% of orders via delivery in dense catchments (brand and city dependent).
  • Payback: 18–30 months is common for well-run locations with disciplined costs and local marketing. (Treat any faster payback claims skeptically; request store-level financials during diligence.)

Compliance & playbook

  • Licences: FSSAI registration, GST, trade licence, Shops & Establishments, signage permissions; fire safety if seating/oven is involved.
  • SOPs: Temperature logs, hygiene audits, defrost/cleaning schedules, FIFO inventory, calibrated scoops for consistent portions.
  • People: Friendly, fast, photogenic plating sells. Incentivize suggestive selling (cones → sundaes → tubs).

Practical tips before you sign

  1. Ask for data, not just decks. Seek historic outlet closures, average store sales by city tier, and delivery:walk-in mix.
  2. Visit 3–5 franchisees (unescorted). Probe rent-to-sales ratios, wastage, and support quality (supply chain, training, marketing).
  3. Model three scenarios (base, soft, strong). Stress-test with 10–15% lower footfall and 3–5% higher input costs.
  4. Negotiate local marketing. Co-funded launch campaigns, sampling booths, and influencer reels move the needle for first 90 days.
  5. Plan for delivery economics. Craft delivery-only bundles (family packs, party tubs), target high-margin add-ons, and use in-app ads sparingly. Claight

Risks to watch

  • Heat, then rain: Weather can whipsaw monthly sales; smooth with events, school tie-ups, and corporate orders. The Economic TimesThe Times of India
  • Copycat flavors: Lean on brand-approved LTOs (limited-time offers) and neighborhood-specific favourites to retain novelty.
  • Cold chain discipline: A single thaw-refreeze ruins texture and reviews; invest in backup power and temperature alarms.

Bottom line: the scope is strong—if you run it like a business, not a hobby

With a growing, premiumising market and delivery unlocking year-round demand, the scope for ice cream franchising in India is compelling. Established players (Amul, Baskin Robbins, Havmor) bring supply chain, brand trust, and menus that work; your edge is execution—site selection, local marketing, crew training, and ruthless control of wastage. Start with numbers, validate on the ground, and build a store people detour for.

Next steps: shortlist brands, request a detailed franchise disclosure kit, visit top- and average-performing outlets in your target city, and build a conservative P&L before you sign. If you want, I can turn this into a 1-page financial model with CAPEX/OPEX assumptions tailored to your city and brand short-list.

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How to Start an Ice Cream Business in India: Costs, Flavors, FSSAI Rules and Big Brand Playbooks”

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How to Start an Ice Cream Business in India: Costs, Flavors, FSSAI Rules and Big Brand Playbooks”

Few businesses in India capture both nostalgia and aspiration quite like ice cream. From Naturals’ fruit-based scoops to Amul’s affordability and Baskin Robbins’ international flair, the category has evolved into a ₹25,000 crore industry projected to grow at 13–15% annually. With rising disposable incomes, urban café culture, and a surge in demand for artisanal and health-friendly treats, starting an ice cream business in India is not just tempting—it’s timely.

Picking the Right Business Model

The first decision is format. Do you want a small neighborhood scoop shop, a trendy dessert café, a mobile ice cream cart, or a delivery-first kitchen targeting Swiggy and Zomato audiences?

  • Standalone parlors (like Naturals or Havmor) build strong local loyalty but require higher investment.
  • Food trucks and carts are cost-effective entry points for testing flavors and gauging demand.
  • Cloud kitchens are lean and delivery-focused, perfect for metros with high app-based consumption.

Pro tip: Many entrepreneurs start with carts or pop-ups before committing to a full-scale store.

Designing Your Menu and Flavors

Indian consumers love classics like chocolate and vanilla, but innovation drives buzz. Think tender coconut (Naturals’ bestseller), filter coffee (popular in Bengaluru), or sugar-free kulfi for health-conscious millennials. Offering a mix of safe bets and limited-edition experiments keeps customers coming back.

Global players like Jeni’s Splendid Ice Creams thrive on quirky seasonal menus—an approach Indian startups can localize with regional flavors like paan, gulkand, or rasmalai-inspired scoops.

Operations and Compliance

Behind the scenes, quality and consistency matter as much as taste. Invest in:

  • Commercial equipment: batch freezers, blast chillers, and reliable storage freezers.
  • Sourcing: tie-ups with local dairy farms or fruit vendors improve freshness and sustainability.
  • Licensing: secure an FSSAI license, GST registration, and local health permits before launch.

Don’t overlook hygiene protocols—today’s customers value transparency and safety as much as flavor.

Marketing and Branding

Ice cream is inherently Instagrammable. Build your brand around storytelling—highlight artisanal processes, farm-to-scoop sourcing, or unique flavors. Use short-form videos to showcase behind-the-scenes scooping or seasonal launches.

Offline, offer free sampling at malls or college festivals to attract young customers. Loyalty cards and “buy five, get one free” campaigns remain surprisingly effective in India’s price-sensitive market.

Cost and Profitability

Starting costs vary widely. A small cart setup may need ₹3–5 lakh, while a branded parlor with seating can cross ₹20–30 lakh. Margins, however, are strong—often 60–70%—given the relatively low cost of raw ingredients. With smart location choices and efficient operations, many ice cream businesses break even in 12–18 months.

The Sweet Bottom Line

An ice cream business in India isn’t just about selling desserts—it’s about curating moments of indulgence in a culture that celebrates food. Whether you dream of a quirky artisanal brand, a delivery-first model, or scaling into the next Naturals, the market is large and growing.

If you have the creativity to experiment and the discipline to manage operations, this could be one of the most rewarding ventures to scoop into. Because in India, one truth remains timeless: people will always step out for ice cream.

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Baba Ramdev Slams Donald Trump’s 50% Tariff on Indian Goods, Calls for Nationwide Boycott of Pepsi, Coca-Cola, McDonald’s & More

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Baba Ramdev Slams Donald Trump’s 50% Tariff on Indian Goods, Calls for Nationwide Boycott of Pepsi, Coca-Cola, McDonald’s & More

Yoga guru Baba Ramdev has come out strongly against US President Donald Trump’s decision to impose steep tariffs on Indian goods, calling it an act of intimidation and abuse of power. In his conversation with ANI, Ramdev didn’t mince words, describing the move as “bullying” and a “dictatorial step,” and urged people across India to respond with a nationwide boycott of American brands.

He went as far as naming companies like Pepsi, Coca-Cola, McDonald’s, KFC, and Subway, insisting that not a single Indian should be seen supporting them. According to him, if Indians collectively stop purchasing from these global giants, the economic impact in the United States would be so intense that Washington would be forced to roll back its decision. “This blunder of targeting India will backfire,” Ramdev warned, predicting that it could create widespread disruption in the American market and push inflation there to unbearable levels.

Ramdev appealed to citizens to take a firm stand against what he called an unfair 50 percent tariff hike, saying the most effective way to send a message is by rejecting American products altogether.

The controversy stems from Trump’s order to levy additional duties on Indian imports, which officially came into effect on Wednesday, August 27. The White House has justified the move by pointing to India’s continued purchase of Russian oil and military equipment, arguing that such trade indirectly helps Moscow sustain its war against Ukraine. The Department of Homeland Security, in a notification, stated that the tariffs apply to all Indian goods cleared for consumption after 12:01 am EDT on August 27. The action is linked to Executive Order 14329, signed on August 6, 2025, under the title “Addressing Threats to the United States by the Government of the Russian Federation.”

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