... Federation and the National Energy Security Fund (FNEB). India does buy the ultra-light low-sulfur oil from the U.S., but for its refining, it needs to be blended with heavier grades of oil, including Russian, the expert adds. This means that regardless of political agreements at the U.S. and India level, there are technical and economic specifics: Indian refineries simply do not require large volumes of American light oil, as it is less efficient without blending with heavier grades of oil. And of course,...

... Nord Streams has minimal impact, as they are not utilized for deliveries to Europe following the September 2022 sabotage, thus Gazprom has incurred no losses, believes Tereshkin from Open Oil Market. Sanctions against the Nord Streams are more of a political declaration, as these pipelines primarily benefited Germany, which planned to develop its gas hub, not Russia, argues Shevyrenkov from IEF. There is a plan for the EU to abandon Russian gas by the end of 2028 and a roadmap to achieve this, recalls ...

... Norilsk Nickel, Yandex, etc.) pay dividends of around 5–12% per annum. Long-term investments in stocks can ensure superior capital growth due to business development and profit reinvestment. However, stocks are volatile and subject to economic and political risks. Dividends and capital gains are taxed at 13%. The liquidity of large-cap stocks is typically high. Foreign Assets and Funds. To diversify, a portion of funds can be invested in foreign markets through ruble-denominated ETFs and mutual ...

... value has fallen to its current ~$38 billion. Just a decade ago, Gazprom's management harbored ambitions of reaching a trillion-dollar valuation; however, in practice, the company is experiencing an extended downturn. Dependence on commodity export and political risks have undermined investor confidence: GAZP shares have lost a significant portion of their value in recent years. Tatneft Remains Far Behind A similar situation is observed with Tatneft. This large Russian oil company is currently valued ...

... schemes or focus on the internal market. The absence of foreign capital exacerbates the shortage of transactions, causing the M&A market to rely increasingly on the participation of Russian investors. Macroeconomic Factors The state of the economy and politics directly impacts the M&A market. In recent years, GDP growth has slowed, and inflation remains above the target level, forcing the Central Bank to maintain high key rates. Expensive ruble-denominated debt diminishes the investment appeal of projects: ...