A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Developing Exchange Trading in Russian Oil
5 October 2017

The customary pricing mechanism for oil, which is based on the use of existing price benchmarks as a method for determining fair market price, has recently come under fire amid a significant reduction in oil recovery from fields which form the physical basis for the best-known pricing benchmark. Pricing must be improved by establishing new benchmarks based on oil streams which are more stable from the point of view of production volumes and qualitative characteristics. Establishing benchmarks through direct quotation will help to establish prices with greater precision. Russia is following this trend itself. In November 2016, trading in deliverable futures based on Urals oil was launched at the Russian Commodities and Raw Materials Exchange. These are accessible today to all major Russian oil companies and key Russian brokers, who are being joined by non-resident companies: oil traders and financial institutions. How can this project be further developed? What impact could developing exchange trading in Urals oil have on the Russian economy?

Russian Energy Week
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