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31 Jul, 2014

Western Sanctions Means that Russia Has to Look East – Minister – RIA Novosti

NOVO OGARYOVO, Moscow Region, July 30 (RIA Novosti) – Russia could loosen the tightening grip of western sanctions on its economy by improving the economic climate in its far-eastern territories, designated as “advanced development zones” in a bill that may be laid before the Duma in autumn, Russia’s Far East Development Minister said Wednesday.

Speaking at a meeting with President Vladimir Putin, Far East Development Minister Alexander Galushka said the plan to make the region a lucrative investment opportunity for foreign business is “probably the best response to attempts to thwart Russia’s development by throwing foreign policy obstacles in its path.”

Read the rest: Western Sanctions Could Boost Economic Growth in Russia’s Far East – Minister | Russia | RIA Novosti.