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Russia Agrees to Cut Farm Subsidies by 50% to Join WTO, Kommersant Reports

Russia agreed to more than halve farm subsidies by 2017 as it aims to join the World Trade Organization, Kommersant reported, citing Agriculture Minister Yelena Skrynnik, speaking yesterday in Geneva.

Russia will keep the farm subsidies unchanged through 2012 at about $9 billion a year and will then cut state support to the agricultural producers to $4.4 billion by 2017, Kommersant reported citing the Minister.

To contact the reporters on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.

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