... involving intermediaries always means additional costs, and it’s unclear who will bear these expenses – Russia or the Europeans. In 2022, not all European countries agreed to the new payment scheme. This time, the change might happen without losses for gas buyers, but challenges will remain. “In 2022, political pressure on the European companies that agreed to buy Russian gas was much stronger than it is now. Back then, they could be vilified and accused of supporting Russia. Now, adopting ...

... internal consumption requirements. Therefore, short-term price fluctuations may be natural, especially during peak demand seasons, explains Mark Shumilov, an analyst in resource sectors at Renaissance Capital. This amounts, at worst, to a temporary loss of around 5% of the total gasoline output in the country. With the full ban on gasoline exports that began in August, the share of gasoline exports was about 10-15% of total production. Even considering intergovernmental agreements for gasoline supplies ...

... operations. The growth of transit cargo (+3.9%) and container flows signals the need for investments in multimodal logistics and expanded container infrastructure. Reevaluating transport strategies and optimizing transportation routes can help recoup some losses by accelerating transshipment operations and reducing vessel downtimes. Enhanced control over tariffs and cargo transportation priorities can help mitigate financial risks associated with reduced income amidst declining volumes. Thus, the change ...

... diesel were included in the subsidy parameters. The subsidy only takes into account exchange trading, where only 16% of the diesel produced is sold; the remaining 84% is sold in small wholesale, where oil companies can raise prices without fearing the loss of subsidies. However, Gusev believes that the subsidy is doing its job of stabilizing the overall fuel market situation. Some subsidy parameters and fuel market rules may need to be adjusted in response to changing market conditions. It might ...

... (depending on the bank and term). The risks are low since deposits are insured by the state (up to 1.4 million rubles). However, inflation (around 7–8%) and a 13% tax on interest income reduce real profits. Liquidity is low: early withdrawal results in the loss of part of the interest. Government Bonds (OFZ). Russian OFZs offer a return of about 15–18% per annum (depending on the term). These are relatively low-risk securities (guaranteed by the state) with high liquidity. Investors receive coupon income ...