Russian Beer Fest Goes Flat for Brewers

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MOSCOW—The world’s top brewers once bet big on Russia’s famous love of drinking, pouring hundreds of millions of dollars into new plants and distribution networks as they sought to tap a growing taste for beer in a land where vodka long ruled.

For years the investment paid off. But now the Kremlin’s campaign against alcoholism has sapped the life out of the party as a flood of new regulations and taxes aimed at turning around dismal life expectancy rates for men has made the beer market go flat, brewers say.

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