Work on a BRICS commodity exchange is advancing, Russia’s Economic Development Ministry told Interfax June 22. “A conceptual model of the exchange’s operation has been prepared,” the ministry’s press service told Interfax, adding that technological standards and operating rules are being developed with partner countries. Under Russia’s National Plan for the Development of Competition (2026–2030), a formal work plan for the exchange is due to be approved by July 1. The finance, agriculture, and industry-and-trade ministries, the Federal Antimonopoly Service, and the Central Bank are all involved.