[2] Born in Kiev, he has a Candidate of Technical Sciences (PhD) degree and graduated from Rostov Institute of Engineers of Railway Transport in 1960.

From 19 April 19 to 15 November 1991 Lobov was First Deputy Chairman of the Council of Ministers of the RSFSR in the first and second cabinets of Ivan Silayev.

With Silayev's resignation on 26 September 1991 Lobov became de facto acting prime minister of Russia.

[1][3] From 1991 to 1995, Lobov actively helped Aum Shinrikyo, a Japanese new religious movement, to establish operations in Russia.

According to allegations made in the United States Senate in 1995, Lobov's relationship with Aum began in December 1991 and continued to 1995.