... companies; Through secondary sanctions that hinder Russia's cooperation with third countries. Therefore, even if some restrictions are eased, it is unlikely to result in a full restoration of previous economic relations. What Does This Mean for Investors? 1. Growth of the Domestic Market Sanctions have forced Russian businesses to focus on the domestic market, creating new opportunities in areas such as: Manufacturing and Industry; Technology and IT; Logistics and Transport; Energy and Mining. 2. Potential for Import Substitution Many Western companies have exited the Russian market, but domestic producers have filled the gap. This opens up opportunities for investment in companies developing local analogs of Western goods and technologies. 3....

... Andreessen Horowitz Focus on Technology and Innovative Companies Andreessen Horowitz actively supports startups in software, fintech, artificial intelligence, cryptocurrencies, healthcare, and biotechnology. The firm seeks to invest in companies with the potential for scaling and creating new markets. Support at All Stages of Growth The firm invests in companies at various stages, from seed investments to later funding rounds. This enables Andreessen Horowitz to accompany startups throughout their lifecycle, providing long-term support. Active Assistance in Management and ...

... essential to spread risks. Assessment of the Business Model. Startups often rely on new or unproven business models. Evaluate how realistic the project's idea is, what needs it addresses, and what problems it solves. Market Analysis. Check the size and growth potential of the market targeted by the startup. The larger and more promising the market, the greater the chances of success. Competitive Environment. Assess the presence of competitors and the unique advantages of the startup compared to other market ...

... “low-price” platforms remains, but JD strengthens its position through service quality and fast delivery. Regulation: Predictability of requirements enhances trust in public technology companies. Risks to the JD Investment Case Price Competition: Potential margin compression in certain categories. Logistics and Subsidies: Increased promotional activity may temporarily raise commercial expenses. Macro: Slowdown in consumer activity in China could pressure GMV growth rates. Monitoring Benchmarks Share of high-margin revenue (commissions, advertising, technology) in overall JD revenue. Trends in logistics metrics: delivery speed, last-mile costs, warehouse utilization. Trends in active customers and order frequency,...

... introduced for low-income citizens to alleviate the impact of tariff increases. Regulators also noted that the pace of tariff growth will slow in the coming years (for example, around +9% in July 2026). For electricity investors, the rise in tariffs means potential revenue growth for energy supply and generating companies, although the state is carefully monitoring to ensure that tariff policy does not exacerbate overall inflation and hinder economic growth. Geopolitics and Energy Resource Trade: Restructuring Global Flows ...