an Government plans to invest up to RUB30bn ($1bn) for the development of wine industry in the recently annexed Crimean and Caucasian regions.The investment plans are set to receive approval at an upcoming meeting of the Prime Minister Dmitry Medvedev-led government, reported Decanter.
Crimea currently has vineyards in 31,000ha in the region that has perfect conditions for the development of winemaking, said Medvedev.
Russia is keen to integrate Crimea's agriculture and winemaking industries into its state support schemes, including agricultural development program.
In addition, the government plans to increase Crimea's wine grape harvest by 53% over next three years, by setting up 19,100ha of new vineyards.
The closure of the Ukrainian market to Crimean wine has made the Russian Government order leading national retailers to have the wine on their shelves.
