According to Interfax article published on March 28, 2023, Russia needs to establish national exchange indicators for the whole economy, not just in the fuel and energy sector, and indicators could be set on the basis of both exchange trading and over-the-counter transactions, Economic Development Minister Maxim Reshetnikov said.
"A separate topic is the establishment of national exchange indicators for Russian commodities. This is really a challenge faced by our whole economy, not just the fuel and energy sector. Clearly this challenge is faced by the agribusiness sector, by the sector of industrial exchange-traded commodities," Reshetnikov said at an Energy Ministry meeting.
"But at the same time we understand that it is in the fuel and energy sector that some groundwork has already been laid over these years," he said, adding that "we need to generate all these indicators on the basis of exchange trading and, perhaps, using over-the-counter registration of contracts, since this was done for wheat, for example, which is also positive experience."
"In general we understand that, ultimately, without our indicators we will not be able to normally resolve issues concerning domestic trading, and domestic pricing and, of course, issues of taxation, and there will always be these allowances and groundwork that do not always satisfy everyone," Reshetnikov said.
