MOSCOW, November 27. /TASS/. Creating a benchmark for Russian crude oil requires a sound financial infrastructure around it, CEO of Russian oil producer Zarubezhneft said during the Primakov Readings forum.
"A physical benchmark - there is nothing difficult about this plan. However, it should be understood that a very large financial infrastructure should be created around it," Sergey Kudryashov said. "This is not merely the business of oil or gas companies. These are matters that go beyond the limits of our sectors," he noted.
The dollar still prevails in financial markets, the chief executive said. All debt liabilities are pegged to this currency, he noted, "Even if we now sign contracts linked to our currencies, they nevertheless have the dollar as the indicator. Therefore, serious efforts should be made to create the common infrastructure to progress to the benchmark. Otherwise, there will always be a clear winner here," Kudryashov added.