... the risk level. Main Short-Term Instruments Short-term investments are aimed at a period of up to 1-2 years. The main priorities are high liquidity and capital protection. Let us explore popular options: Bank Deposits Profitability: According to the Bank of Russia, average rates on ruble deposits from the top 10 banks in April 2025 were about 18-19% per annum. For instance, deposits for 6-12 months yield approximately 19.3% annually. Advantages: Deposits are simple and reliable, with income guaranteed by ...

... and risks. Appendices are also prepared: audit reports, financial statements for several years, information on current shareholders, and plans for market entry. Prospectus registration. The offering prospectus is registered with a regulatory body (in Russia, with the Central Bank, which acts as the securities market regulator). By law, shares cannot be offered to an unlimited number of persons without prospectus registration. This stage can take several weeks due to document examination. The regulator checks the completeness and accuracy of the disclosed information. Selection of underwriters and advisors. As in IPOs, the company ...

... economic growth. Some financial institutions are revising forecasts: several investment banks predict an average Brent price in Q4 2025 at around mid-$60, which is lower than... ... restrictions if necessary. OPEC+ Maintains Cautious Production Increases The countries of the OPEC+ agreement continue to balance the market, gradually returning production... ... pre-crisis levels. In August, the deal stipulates that eight key countries (including Russia, Saudi Arabia, the UAE, etc.) monthly increase total oil production. It has recently...

... conditions and possible risks. The Russian Ministry of Economic Development expects the exchange rate to be around 93.8 rubles per dollar. This forecast is based on stable revenues from oil and gas exports, as well as possible support measures from the Bank of Russia. SberCIB Investment Research forecasts the exchange rate at 95 rubles per dollar, relying on high interest rates in Russia, which make the ruble attractive for short-term investments. However, factors such as sanctions and international instability ...

... persistent geopolitical risks that heighten interest in savings in stable currencies. At the same time, the ruble is supported by high oil prices, Ministry of Finance currency sales under the budget rule, as well as the elevated key interest rate set by the Bank of Russia (18% annually), which makes ruble-denominated assets attractive. The balance of these factors indicates that sharp fluctuations in the currency market are not anticipated: the ruble is likely to continue moving within the established range, responding ...