St. Alexey Rybnikov is stepping down from his role as president of the St. Petersburg International Commodity and Raw Materials Exchange, known as SPIMEX. Early discussions indicate Igor Artemyev, formerly the head of the Federal Antimonopoly Service, could succeed him. Interfax reported this potential transition after speaking with industry sources.
One insider suggested that a formal announcement about the management switch would come in the near term. Some briefings pegged Artemyev’s start date to November 1. Rybnikov has led SPIMEX since 2011, guiding the exchange through Russia’s largest multi-commodity trading platform that oversees the buying and selling of oil, gas, timber, fertilizer, and other key market products. As such, the leadership shift could have implications for price discovery, contract formats, and the interaction between state policy and private trading activity on the exchange.
In late July, SPIMEX observed a notable rise in prices for major fuel types on its trading floor. The Russian government subsequently banned gasoline and diesel exports starting September 21. In early October, policy controls were tightened again, with adjustments to the trading damper and looser conditions for selling refined products on the exchange. In response, fuel costs retreated from their earlier peaks, declining by roughly 30 percent from record levels. Independent market analyst Konstantin Tserazov attributed the decline to the government’s stabilization measures aimed at calming the retail fuel sector and reducing volatility in energy prices. The broader currency environment has also been cited in some discussions as a factor affecting energy trade and price dynamics.
Previously, the Russian Federation’s government stated a commitment to stabilizing retail oil product prices, a goal that has continued to influence pricing strategies and policy interventions across the energy and commodities markets. Observers note that any leadership transition at SPIMEX could intersect with ongoing regulatory actions, international market reactions, and the evolving landscape for energy trading in Russia and neighboring regions.