Russia earns more from agriculture than arms sales
One of the results of Russia’s food embargo against the EU and a weaker ruble has been a remarkable boom in agriculture, reports German weekly Der Spiegel.
Russian agriculture has been in decline since the collapse of the Soviet Union in 1991. Investors avoided the sector, turning to raw materials instead. Over that period Russia lost about 35 million hectares of arable land, an area almost the size of Germany.
Everything changed in 2014 with the introduction of Western anti-Russia sanctions and Moscow’s response.
“In recent years, the share of agriculture in the Russian economy has increased, contrary to the global trend. In the past year, Russia for the first time earned from agricultural exports more than from the sale of arms,” the report said. – READ MORE