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. Last Updated: 07/27/2016

Russia Creates $600M Food Reserve

Russia's government has created a $600 million emergency food reserve to help the country through one of the "most difficult and complex periods in its history," Prime Minister Yevgeny Primakov said Wednesday.

A two-month old economic crisis has not caused food shortages, and no serious problems are anticipated. But with food imports falling sharply, and the grain harvest likely to be the smallest in 40 years, the government wants insurance against the vagaries of the Russian winter. "The population will have secure supplies of fruit and vegetables," Primakov told the upper house of parliament, the Federation Council. But, he added, "I must honestly say that we have limited resources."

The government has earmarked $600 million to stock up on reserves that would last for two weeks and cover the needs of a third of Russia's population, Primakov said.