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Russia May Withdraw Arable Land From Owners, Vedomosti Says

Nov. 26 (Bloomberg) -- Russia’s parliament may approve legislation this year to withdraw as many as 40 million hectares (98.8 million acres) of arable land from owners who aren’t using it for agriculture, Vedomosti reported.

President Dmitry Medvedev asked the parliament to adopt the law by the end of the year, the Moscow-based newspaper said, citing parliamentary Speaker Boris Gryzlov. The legislation would authorize officials to sell the land at auction, and the former owners would be compensated, the daily said.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.

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