... sectors and restricted access to international financial markets. Decline in Export Revenues Falling global prices for oil and gas, along with a reduction in their export, diminished the inflow of foreign currency into Russia. Monetary Policy The Central ... ... Forecasts the dollar exchange rate to be between 100 and 108 rubles by the end of 2025. Ministry of Economic Development of the Russian Federation Estimates the average annual ruble exchange rate in 2025 at 96.5 rubles per dollar. Alternative Scenarios Some ...

... briefly lifted in May but reinstated in August after a price surge due to seasonal demand and oil price hikes. According to Dmitry Gusev, Deputy Chairman of the Supervisory Board of the “Reliable Partner” association and member of the "Russia's Gas Stations" contest advisory board, reopening gasoline exports is justified due to the end of peak demand season and Russian refineries' production capabilities. The government retains the option to reinstate the ban if prices rise. Gusev emphasizes that lifting the export ban should require continued oversight of Russian Railways (RZhD) to ensure timely deliveries,...

... focuses will include: Advanced Micro Devices (AMD) – Q2 2025 report (one of the leaders in the U.S. semiconductor sector, producing chips for data centers and AI). Ozon Holdings – financial statements for six months of 2025 under IFRS (the largest Russian online retailer). BP plc – financial results for Q2 2025 (a British oil and gas corporation, one of the leaders in the global energy sector). These reports will allow an evaluation of the state of both the tech sector and consumer markets, as well as the commodity industry. For instance, investors will look to AMD's results for ...

... rate (13%/15%). Conclusion: Stocks and funds have the potential for higher returns through price appreciation and dividends, but they also come with high volatility. It is advisable to complement a mid-term portfolio with "blue chip" stocks (gas, oil, finance) and international ETFs to mitigate risks across countries and sectors. Companies with solid business foundations yield decent dividends, and stocks from the tech sector (though not directly accessible to Russians) can be substituted with foreign tech platforms via ETFs. Precious Metals and Currency Assets Gold. Gold is viewed as a "safe haven" against inflation and strengthens the portfolio during crises. In 2024, the price of gold in rubles ...

... prices and the ruble exchange rate. Reasons for the Increase in Money Supply in 2024 Monetary policy of the Central Bank of the Russian Federation. The increase in money supply may have been prompted by economic stimulus programs aimed at maintaining liquidity ... ... conditions of economic instability. High energy resource prices. In 2024, Russia maintained export revenues due to stable oil and gas prices, leading to an increase in currency reserves and money supply. Growth in domestic lending. Banks became more active ...