... 2025, Russia also relaxed regulations for foreign investors: they were permitted to acquire shares in domestic companies and transfer funds without restrictions. These measures are aimed at reviving international investments and facilitating a tighter integration of the local venture capital market into global processes. Although the scale of the venture market in the region remains relatively modest, the groundwork for future growth is gradually being laid. Investors are shifting their attention to ...

... suppress price growth, experts note that manual intervention has its limits: without systemic changes, the same reactive measures need to be revisited every year. Impact on Fuel and Oil Companies, Consumers Oil Companies and Refineries: For vertically integrated oil companies that own oil refineries, the current situation is twofold. On one hand, high retail and wholesale gasoline prices boost revenue in the short term. On the other hand, export restrictions and decreased dampener payments significantly ...

... support AI startups. In July 2025, Russia also eased regulations for foreign investors: they were once again allowed to acquire stakes in domestic companies and freely withdraw invested funds. These measures aim to revitalize international investments and integrate the local venture market more closely into global processes. Although the scale of the venture market in the region remains relatively modest, the foundation for future growth is being gradually laid. Investors are shifting their attention to ...

... years, the Russian SPO market still lags behind its international counterparts in terms of volume. This is explained by the lower share of public companies in the Russian economy, with many firms preferring private funding or loans. Nevertheless, due to integration with global markets and the increasing demand for capital, SPOs are becoming more widespread. International experience suggests that as financial markets develop, the share of additional offerings will grow. For comparison, in major economies,...

... key focus will be the intelligent cloud segment (Azure): investors will want to learn how Azure has fared (last quarter saw growth accelerate to ~27% year-on-year, and the market hopes for a continuation of this pace). Moreover, Microsoft is actively integrating AI (from investments in OpenAI/ChatGPT to implementing Copilot features in Office) – analysts will be waiting for comments on how these initiatives are impacting sales and costs. Another focal point will be the personal computer business ...