Russian President Dmitry Medvedev promised to grant Russian farmers 35 billion rubles ($1.15 billion) in state support, following the heat wave that has destroyed nearly one-quarter of the country's crops this summer.

"About one-quarter of grain crops have been scorched in the country. Unfortunately, many farms are in a pre-bankruptcy status. The situation is severe, I would even say extraordinary," Medvedev said.

The 35 billion ruble support would augment regional aid to victims of the country's worst heat wave, he said.

Russia's agriculture insurance system should also be changed, Medvedev said.

The insurance system "is practically not working," he said at a government meeting.

"Despite the fact that the state gives grants... only one-fifth of the crops are insured," Medvedev said, adding it was necessary "to revise the existing system of insurance, to make it...efficient and then launch it."

A scorching heat wave has gripped much of European Russia since mid-June, which coupled with the worst drought since the 1970s has made the countryside particularly susceptible to wildfires.

TAGANROG, Russia, August 12 (RIA Novosti)