Russia plans to invest in Crimean wine industry

Russia could invest up to RUB30bn (US$1bn) to develop winemaking in the recently annexed Crimean Peninsula and Caucasian regions of Russia if funding plans gets approval at a forthcoming meeting of the Russian government under the leadership of Russia’s Prime Minister, Dmitry Medvedev.

Medvedev has praised the quality of Crimean wine and the region has perfect conditions for growing grapes. The total vineyard area currently covers 31,000 hectares but there are plans to plant up to 19,100 hectares of new vineyards. Accordingly, Crimea's wine grape harvest should increase by 53% on current levels by 2017.

Following the closure of the Ukranian market to Crimean wine, the Russian government has ordered leading national retail chains to provide spaces for it on their shelves.