The Fife-based distillery is majority-owned by a Russian controlled holding company that has supplied the business with over £10 million.

Following Russia’s invasion of Ukraine, Lindores’ Russian directors have agreed to resign, and negotiations are underway to return the company to Scottish ownership.

After almost twenty years of planning by founder Drew McKenzie Smith, the distillery opened in 2017. His plans came to fruition after being introduced to Russian investors by Scottish Enterprise around eight years ago.

More than 75% of Lindores Distilling Co Ltd is owned by Spirex Ltd, the holding company owned by Russian nationals Anton Buslov, Sergey Fokin, Sergey Uryadov and Dmitry Morgunov, The Courier reports. 

Mr and Mrs Mckenzie Smith said: “We have never hidden the fact that we have Russian investors and indeed these investors were introduced to us by Business Gateway, a Scottish Government agency.

“They are certainly not oligarchs and certainly not on any sanctions list. They are first and foremost whisky lovers. We at Lindores, however, utterly deplore and condemn the current situation in Ukraine.

“We have been in frequent discussions with our Russian shareholders, and today they are resigning as non-executive directors of the company.

“We are currently also in negotiations with them to try and agree a situation whereby the Mckenzie Smith family will acquire their shareholding, thus moving the company to 100% Scottish ownership and control.”

They added: “The ongoing support of our staff, members of the 1494, customers and suppliers at this time is hugely valued. These are more than trying times for very many people.

“First and foremost for those in Ukraine, but to a lesser extent for anybody who has been dragged into a situation not of their own making. We hope that everyone understands our immediate concern is to protect local jobs and the ongoing health of the company.”