Moscow, July 8 (MTI) – Gyula Budai, a commissioner of Hungary’s foreign minister, held talks with Russia’s deputy farm minister Sergey Levin in Moscow on Wednesday on establishing a joint venture to breed cattle.
Budai told MTI that Hungarian agribusiness Hunland Trade wants to set up the joint venture with the local government of Voronezh. The Russian state supports the project and Hungary’s Eximbank wants to participate, too, he added.
Budai said the sides also reviewed agriculture ties between the two countries with an emphasis on EU sanctions against Russia and Russia’s embargo on farm products from Europe.
Alexey Ulyukayev, Russia’s economy minister, said early this year that Russia was exploring ways of softening the food embargo for Hungary, Greece and Cyprus on their request.
Russia may exempt around 15 Hungarian firms from its embargo on food imports from the European Union, Interfax news agency quoted a senior Russian official as saying in May.