Source Pravda.Ru

Finance Minister comments on grain market's stabilization

The stabilization of the Russian grain market will require several financial interventions, Finance Minister Alexey Kudrin announced at today's meeting between President Vladimir Putin and the Cabinet.

According to the Russian president's press service, at the meeting, President Vladimir Putin expressed discontent with the slow pace of additional state purchases of grain from farmers.

According to Kudrin, the Finance Ministry has already started preparing financial interventions in the agricultural sector. It is going to provide state guarantees of additional grain purchases worth 6bn rubles (about $189m), and 1bn rubles (about $31m) have already been allocated.

The president's press service reported that participants of today's meeting had also considered the work on some bills, in particular, the bill on local self-government. In addition, the President and the Cabinet discussed the results of the Russia-EU summit in Brussels and the negotiations in Oslo.