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 – 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 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 130 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 70 countries worldwide.

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Alexey Rybnikov

Alexey Rybnikov

President, Chairman of the Board of Directors, Saint-Petersburg International Mercantile Exchange
Quotes
04.10.2018
Russian Energy Week 2018
The Development of Pricing on the International Oil Market: New Benchmarks, Currencies and Settlement Technologies
Along with our core contracts, we are experimenting with various new ideas and mechanisms. Today, after this session, a memorandum will be signed with the leading price agency Platts. The memorandum is aimed at searching for and the fragmentation of ideas that could be used in world oil pricing. We are working on launching a settlement contract for the Urals index. The main thing here is that we lack the very basic asset that does not allow for launching settlement contracts. I think that we will come to this
04.10.2018
Russian Energy Week 2018
The Development of Pricing on the International Oil Market: New Benchmarks, Currencies and Settlement Technologies
Apart from a few, Russian companies do not have their own trading business. Russian companies simply sell oil virtually without any commerce, and the trading business is tens of cents or dollars that can be earned on each additional barrel of Russian oil [...] We believe that benchmark status gives an additional premium to the price because it is a premium for liquidity [...] but it will come sometime later. And the first component that will come is additional revenue from trading
04.10.2018
Russian Energy Week 2018
The Development of Pricing on the International Oil Market: New Benchmarks, Currencies and Settlement Technologies
Today, the view of Russian companies on risk is that they have no risk at all because they all trade according to the price formula, as a rule. And a simple and deceptive external impression has been created that there is no risk because at each moment in time oil is being sold at the market price at the moment it is loaded
04.10.2018
Russian Energy Week 2018
The Development of Pricing on the International Oil Market: New Benchmarks, Currencies and Settlement Technologies
The exchange can make a contract. The contract we made is a supply contract for URALS export oil [...] The simplicity of the contract also lies in the complexities associated with initiating liquidity on this contract because a substantial portion of liquidity is created by financial players [...] But not a single financial player will ever show up if there is no primary liquidity on the contract, which can be created only by the main market participants — in this case, Russian producers and large global, mainly foreign, oil traders. So far, no initial liquidity initiation has taken place
04.10.2018
Russian Energy Week 2018
The Development of Pricing on the International Oil Market: New Benchmarks, Currencies and Settlement Technologies
Over the past two years since the launch of the contract, many important events have occurred [...] Russian companies have begun restructuring their business processes, training personnel, and adopting various internal documents. We see that Russian companies have advanced far down this path [...] Over two years, we have figured out elements [...] that interfere with practical work. The procedure for interaction with customs makes it possible to use electronic contracts for registration. In terms of currency regulation, the Central Bank has done a number of important things, significantly simplifying work with clearing organizations. There has been significant progress with respect to taxes