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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Report: Russia's BRICS grain exchange proposal will take years

    Rocky
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    Report: Russia's BRICS grain exchange proposal will take years Empty Report: Russia's BRICS grain exchange proposal will take years

    Post by Rocky Today at 4:52 am

    Report: Russia's BRICS grain exchange proposal will take years

    Report: Russia's BRICS grain exchange proposal will take years 20024
    Wheat ears in a field in Russia. "Reuters"



    Arabic and international
       


    Economy News - Follow-up
    BRICS members welcomed a proposal by Moscow at the group's summit in Kazan, Russia, this week to establish a new international grain exchange, but turning that proposal into reality could take years.
    According to a report published by Reuters and reviewed by Sky News Arabia, Russia seeks to establish a grain exchange as part of a broader plan to launch new financial instruments, separate its trade from the dollar, and help Moscow avoid Western sanctions.
    President Vladimir Putin said at the summit that the BRICS countries, which are among the world's largest producers of grains, legumes and oilseeds, could establish this exchange and later expand it to include trade in other major commodities.
    Leaders of the BRICS group, which includes Brazil, Russia, India, China and South Africa, approved the plan to establish the exchange.
    Eduard Zernin, head of the Grain Exporters Union, whose members export 80 percent of Russia's grain, said that based on the experience of creating the BRICS New Development Bank, launching the joint exchange would require years of preparatory work.
    He pointed out that the proposed new stock exchange must have an international character to protect it from possible Western sanctions.
    He added: "The main stage of the process has been completed, and the initiative to establish the stock exchange has been approved at the level of BRICS leaders."
    Russia, the world's largest wheat exporter, has been seeking for years to develop its own mechanisms for pricing basic commodities to counter the dominance of Western exchanges, especially after global grain prices fell this year.


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    Added 10/24/2024 - 9:16 PM
    https://economy-news.net/content.php?id=49131
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