People who have placed their money in fine wine investment over the past 18 months will have little to cheer about. The market has seen a general downturn in value, but when measured against other asset classes, it still holds its own. Those who have been in the fine wine market for a number of years are relaxed, having more of a feel for the natural dynamics of the correction we have endured since mid 2011.

A deal is coming this year that could see India significantly opened up to the wine investment market as Indian import taxes on alcohol could be slashed by as much as 73 per cent.

For many of us, the mere mention of alcohol and Russia evokes stereotypical images of heavy drinking Muscovites, consuming large amounts of vodka, in smoky bars at sub-zero temperatures; and although Russians have always had a close affinity for alcohol, this is far from the truth.