MOSCOW, May 10 (RIA Novosti) - President Vladimir Putin said Wednesday that a ruble-denominated oil and natural gas stock exchange should be set up in Russia.
Speaking before both chambers of parliament, cabinet members, and reporters, Putin said: "The ruble must become a more widespread means of international transactions. To this end, we need to open a stock exchange in Russia to trade in oil, gas, and other goods to be paid for with rubles."
"Our goods are traded on global markets. Why are not they traded in Russia?" Putin said.
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One of the main achievements of the 6th BRICS Summit was the signing of an official document on establishing a New Development Bank with a declared capital of $100 billion. The creation of the bank is an important step towards institutionalizing BRICS and strengthening its positions in the world in the long run.