Russian President Vladimir Putin is waiting for proposals for the creation of an exchange for agricultural trade in cooperation with BRICS countries to be submitted by July 1.
"The Government of Russia, together with the Bank of Russia, should submit proposals on the creation of an exchange for organized trading in agricultural products in cooperation with foreign countries that are members of the BRICS interstate association," the list of instructions from the head of state said.
Russia's Prime Minister Mikhail Mishustin and Head of the country's Central Bank Elvira Nabiullina were appointed responsible for the execution.
In March, Putin supported the Russian Union of Grain Exporters' initiative on creation BRICS grain exchange, noting that speculative trading affects prices and consumers.