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St. Petersburg International Economic Forum 2016

Russia to back agricultural producers even if sanctions are lifted — Deputy PM

Russia will continue supporting domestic agricultural producers even if sanctions are canceled

ST. PETERSBURG, June 16. /TASS/. Russia will continue supporting domestic agricultural producers even if sanctions are canceled, Deputy Prime Minister Arkady Dvorkovich said on Thursday on the air with Rossiya 24 TV Channel.

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"If sanctions are canceled, then we will also adjust and change our measures. We already understand and know how we will support our producers and what scope of support we can provide for them to remain in the favorable situation," the official said.

Russia is showing ‘fantastic’ growth of agricultural export in 2016, First Deputy Minister of Economic Development Alexey Likhachev said earlier on Thursday at the St. Petersburg International Economic Forum (SPIEF).

"We have fivefold growth of export [of agricultural products] in dollar terms and 30.5% growth in physical terms of overseas agricultural supplies as of the end of four months," Likhachev added.

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Russia's domestic policy SPIEF 2016

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FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

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