A researcher who wrote a doctoral thesis at the Oltermann Institute proposed the name Oltermanni.
In 1997, Oltermanni began to produce lighter version of the cheese with a fat content of 17% by weight.
As a result of the tighter border controls due to the COVID-19 pandemic, the international sanctions during the Russo-Ukrainian war and the Russian counter-sanctions, Oltermanni became unavailable in Russia, which led to a black market for the cheese in Russia.
As a response to this, border supermarkets implemented buying limits on Oltermanni, allowing only 11 kilograms (24 lb) per household.
Russian import limits being 5 kilograms (11 lb), this led to cheese smuggling by lorry drivers.