Diageo is accelerating its expansion into Russia's rum market with the launch of a domestically-produced version of value brand Shark Tooth.

The spirit, which was released last month, is being manufactured for Diageo by Russia’s Ladoga Group with an abv of 40%. At RUB430 (US$13.40) per 50cl bottle, the price-point is significantly lower than its main competitors Bacardi and Pernod Ricard’s Havana Club.

According to Diageo, Shark Tooth will target the country's growing middle class.

The Shark Tooth brand name has previously been limited to a vodka, which Diageo launched in India in 2006.