ST. PETERSBURG, May 24 (RIA Novosti) - The presentation of Russia's first international commodities and raw materials exchange will be held at the St. Petersburg International Economic Forum starting on June 6, the economics minister said.
"The presentation of the exchange will take place as planned. This year we will announce the results of a tender to select companies to manage venture funds," Elvira Nabiullina told reporters.
Kirill Androsov, a former deputy economics minister who was appointed a deputy government chief of staff last week, said the commodities and raw materials exchange has been registered and receive a license before the launch of the forum.
"It will begin with trade in petroleum products. But the main goal is to prepare for trade in REBCO [Russian Export Blend Crude Oil] futures" for supplies from the port of Primorsk, Androsov said.
The international commodities and raw materials exchange was established by Rosneft, Zarubezhneft, Transnefteproduct, Gazpromneft, as well as Surgutneftegaz, Tatneft, Novatek and Surgutex. Russia's largest banks, Sberbank, Gazprombank and VTB, have confirmed their participation in the exchange.
