Energy Markets
Russia's proposed grain exchange for BRICS nations might take years to introduce
Russia's proposal for a new worldwide grain exchange might take years to get off the ground even though the strategy was invited by members of the BRICS group of countries at a top this week in Kazan in Russia. Russia has been pushing to develop the exchange as part of a wider plan to develop new financial instruments, separate its trade from the U.S. dollar and help Moscow battle Western sanctions. President Vladimir Putin said at the top that BRICS nations, which are among the world's biggest producers of grains, legumes, and oilseeds, might establish such an exchange, potentially expanding...