Asian businesses investing about €3.5bn in milk and dairy production in Russia

Asian businesses are investing about €3.5bn in milk and dairy production in Russia, helping Moscow replace imports hit by trade sanctions on traditional suppliers.

Russia banned many Western food imports, including dairy, in 2014 in retaliation for sanctions over Ukraine, creating supply shortfalls and spurring investments in its agricultural sector.

Vietnamese dairy firm TH Group has begun building milk farms near Moscow as part of a €2.5bn 10-year project.