Feb 21 Reuters JDE Peet39;s, the owner of coffee brands such as Douwe Egberts and L39;Or, said on Wednesday that new European Union sanctions against Moscow have created uncertainty over the future of its Russian business, sending shares to a record low.

JDE Peet39;s said in August last year that it would operate its Russian operations as a standalone business and only sell local brands.

However, some elements of the EU39;s December sanctions package, that take effect in June, may affect the assessment of who controls those assets, it said in a press release.

The impact will be considered in its review for the 2024 financial year onwards, it said.

Shares in one of the world39;s largest coffee companies fell as much as 6.8 to 21.60 euros in early trading. They were 5.1 lower at 1027 GMT.

Jefferies analysts noted the coffee group is uncertain if they can keep control of their Russia business given the new EU sanctions, which is dampening its 2024 outlook.

The company, whose brands also include Tassimo and Jacobs, had said it planned to stop selling its international products in Russia by the end of 2023.

It said the business impact of this decision was uncertain, but noted rebranding the Jacobs brand alone for the Russian market had resulted in a 185 millioneuro 200 million impairment.

The group, which produces and supplies coffee and tea beverages and coffee machines, targets midsingledigit percent organic operating earnings growth in 2024, excluding Russia.

It…