The Russian Stock Market Will Return to Long-term Growth Capital Ideas spoke about the Russian stock market with Vitaly Isakov, Director for Investments at Otkritie Asset Management Ltd. (“Open Investments”). What are the main problems facing the Russian stock market? The major issue is that this year, and probably next year, the results of companies will become significantly worse, and uncertainty will grow. Under these…
Strict Currency Control: Reasons and results Strict currency control was not imposed in Russia by chance. The reason for it was the unprecedented sanctions imposed by the West immediately after the beginning of the special military operation in Ukraine. As a result Moscow was forced to take a range of measures limiting currency operations in the country. What will this lead to? Will Russia prohibit the circulation…
Currency Controls in Russia: A history of the issue Currency regulation has existed in Russia since the 15th century. Since that time it has fluctuated: from liberal approaches, to a total ban on operations with foreign currency. After the revolution in 1917, the government instituted a state monopoly on foreign currency operations. Article 88 of the Criminal Code of the RSFSR, specifying criminal penalties for illegal foreign…
Developing Cooperation “Technopolis Moscow” has become one of the leaders in the rankings of Special Economic Zones (SEZ) of Russia. Capital Ideas spoke to representatives of the SEZ management company to understand how it managed to do this. What is the attractiveness of the Technopolis Moscow SEZ for current and potential project participants? Technopolis Moscow SEZ develops the high-tech sectors of the domestic economy,…
Yevgenia Obukhova The Ruble Exchange Rate: Should we expect new surprises? After turning a somersault in the first half of the year (see figure 1), the ruble rate stabilized in August 2022 at the level of 60–61 rubles per dollar. Predicting the currency exchange rate now, when uncertainty has grown many times over, is practically impossible. Yet it is possible to describe the key factors which…
Special Economic Measures: What is possible, and what is not An analysis of the changes in foreign currency regulation introduced as a result of the foreign sanctions is conducted by Ekaterina Zemskaya, Advisor on legal issues to the Director of the NGO “Forum Analytical Center” The special economic measures adopted beginning at the end of February have brought changes to the existing system of currency…
The Digital Ruble: Pluses and minuses of the third form of national currency Sergei Andryushin, Doctor of Economic Sciences, Professor, Chief Researcher at the Institute of Economics of the Russian Academy of Sciences In October of 2020 the Bank of Russia published the consultation report “The Digital Ruble,” in which it presented for the first time its project for a digital currency. After…
Friendship Is Friendship, but Money Is Different? Renowned Russian sinologist Andrei Onikienko tells about how Moscow and Beijing can shift to mutual settlements in their national currencies The exclusion of many Russian banks from the international SWIFT payment system is certainly a blow, and a serious blow. Moscow is now looking for a solution to the difficult situation which has appeared. One possibility…
Islamic Banking: Interest-free and halal In an interview with Capital Ideas, Svetlana Babenkova, PhD, Senior Researcher at the Center for Arab and Islamic Studies at the Institute of Oriental Studies of the Russian Academy of Sciences, Certified Specialist in Islamic Finance (PCIF INCEIF), member of the Russian Council on Islamic Finance, tells what Islamic banking is. Today in Russia people are increasingly…
From Russia with Love, for India Inc. About 40 countries, representing more than half of the world’s economy, have adopted various types of sanctions against the Russian Federation. Over 1,000 companies have announced curtailing operations in Russia to some degree beyond the minimum required by international sanctions, according to the Chief Executive Leadership Institute of the Yale School of Management. This gives…