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. Last Updated: 07/27/2016

Tractor Leasing Talks

MOSCOW -- The Russian government is holding talks with U.S. farm machine giant Deere and Co. on an equipment leasing deal worth nearly $1 billion, the Agriculture Minister said Thursday. Cash-strapped Russian farmers cannot buy new machinery without credit financing.

"We will have no tools to harvest fodder and grain in two or three years unless we find a way to supply machinery to farmers," Agriculture Minister Viktor Semyonov said, according to Interfax.

Russia is also holding talks with other unspecified foreign companies to build agricultural machinery plants in Russia, Semyonov said.