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can be exchanged for issuer shares. The Bank of Russia has examined rules for issuing such instruments and has drawn a conclusion that it is

credit claims on PPP projects will be recorded according to the new rules starting from October 2026. More details are available in the Bank of

3 1. Inflation __________________________________________________________ 5 1.1. Where does ruble’s strengthening come from? ________________________________ 5 1.2. Ruble strengthening: an important channel of disinflation ________________________ 7 2.

demand for rubles needed to pay dividends, or is it attributed to the fiscal rule encouraging foreign currency sales and demand for rubles? What is

РОССИИ’ (BANK OF RUSSIA), the denomination of the coin ‘3 РУБЛЯ’ (3 RUBLES), the year of issue ‘2025 г.’ (2025), the chemical symbol of the

the data file. The form included the number of questionnaires and rules or ranks (rule/range), indicated the value in the file and what it

administrative-territorial units as the basis for the primary sampling units and the rules for the creation of the PSUs are detailed in the ‘Principles for