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Russia Agrees to Cut Farm Subsidies to Join WTO, Kommersant Says

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.