Financial news: On holding auctions on March 25, 2026 to place OFZ issues No. 26230RMFS and No. 26245RMFS.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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For bidders

We inform you that, based on a letter from the Bank of Russia and in accordance with Part I. General Part and Part II. Stock Market Section of the Rules for Trading on the Stock Market, Deposit Market, and Loan Market of Moscow Exchange PJSC, the order establishes the form, time, duration, and procedure for holding auctions for the placement and trading of the following federal loan bonds:

1.

Name of the Issuer Ministry of Finance of the Russian Federation
Name of the security federal loan bonds with constant coupon income
State registration number of the issue 26230RMFS from June 3, 2019
Date of the auction March 25, 2026
Information about the placement (Trading mode, placement form) The placement of Bonds will be carried out in the “Placement: Auction” trading mode by holding an Auction to determine the placement price.BoardId: PACT (Settlement: Ruble)
Trade code SU26230RMFS1
ISIN code RU000A100EF5
Settlement code B01
Additional conditions of placement

The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.

Trading time Trading hours: bid collection period: 12:00–12:30; bid execution period: 13:00–18:00.

2.

Name of the Issuer Ministry of Finance of the Russian Federation
Name of the security federal loan bonds with constant coupon income
State registration number of the issue 26245RMFS from May 8, 2024
Date of the auction March 25, 2026
Information about the placement (Trading mode, placement form) The placement of Bonds will be carried out in the “Placement: Auction” trading mode by holding an Auction to determine the placement price.BoardId: PACT (Settlement: Ruble)
Trade code SU26245RMFS9
ISIN code RU000A108EG6
Settlement code B01
Additional conditions of placement

The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.

Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

Contact information for media: 7 (495) 363-3232PR@moex.com

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Denis Manturov presented the Order "For Valiant Labor" to the staff of Bauman Moscow State Technical University.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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First Deputy Prime Minister Denis Manturov presented Mikhail Gordin, Rector of Bauman Moscow State Technical University, with the Order "For Valiant Labor." In accordance with the decree signed by Russian President Vladimir Putin in January 2026, the university staff was awarded for their significant contribution to the development of science and education and the training of highly qualified specialists.

The award is the fourth in Baumanka's history. Previously, the team was awarded three of the highest state orders.

Denis Manturov noted that the award recognizes the talent, brilliant intellect, and dedication of those who have nurtured and continue to nurture the elite of Russia's engineering corps. The First Deputy Prime Minister expressed special gratitude to Baumanka's veterans and distinguished employees and emphasized the university's contribution to addressing the ambitious challenges of technological leadership.

"For nearly two centuries, the university has been shaping the nation's scientific and technical potential. Its history is a chronicle of the creation of the Russian engineering school, in which a special place is given to the labor heroism of a galaxy of great professors, teachers, and mentors. It also honors those who, having graduated from their university, undaunted the path of pioneers and achieved technological breakthroughs. They made an invaluable contribution to the establishment and development of knowledge-intensive industry and to strengthening our country's defense capability," said Denis Manturov.

The rector of Bauman Moscow State Technical University thanked his colleagues for their many years of dedicated work.

"Our team is a unique community of scientists, teachers, engineers, and students united by a common goal: to train specialists capable of solving the country's most complex problems. Every year, our contribution to this work grows ever more significant – largely due to the university's new capabilities: modern facilities, high-tech equipment, and a renovated campus, where an environment for breakthrough research and the training of a new generation of engineers is being created," noted Mikhail Gordin.

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The government has approved the rules and criteria for forming a list of strategically important medicines.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Document

Resolution of March 17, 2026 No. 277

Comment

From Mikhail Mishustin's opening remarks at the operational meeting with deputy prime ministers, March 24, 2026

Russia will develop a list of strategically important medications that meet the priority needs of the healthcare system for the prevention and treatment of diseases. Their full production cycle must be ensured within the country. The rules and criteria for compiling the list were approved by a decree signed by Prime Minister Mikhail Mishustin. This decision will increase the country's pharmaceutical independence and maintain a stable supply of essential medications to clinics and hospitals.

The list will include vital and essential medications, vaccines included in the national calendar of preventive vaccinations and the calendar of vaccinations for epidemic indications, blood products, blood substitutes, infusion solutions, narcotic analgesics, medications for the treatment of especially dangerous infections, socially significant diseases, and diseases that pose a danger to others.

The production of such drugs will be organized with state support. Furthermore, drugs included in the list will be given priority in government procurement.

"We hope this will reduce the pharmaceutical industry's dependence on foreign suppliers and, overall, contribute to achieving the national goal of preserving the population, improving health and well-being, and supporting families," Mikhail Mishustin noted at a meeting with deputy prime ministers on March 24.

The list will be compiled by a special interdepartmental commission, which will include representatives from the Ministry of Health, the Ministry of Industry and Trade, the Ministry of Finance, the Federal Medical and Biological Agency, the Ministry of Economic Development, the Federal Antimonopoly Service, Roszdravnadzor, and Rospotrebnadzor.

The work is being carried out within the framework of the implementation of the Strategy for the Development of the Pharmaceutical Industry until 2030.

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The government has extended the deferral of tax and insurance premium payments for coal industry enterprises until the end of April.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Document

Resolution of March 20, 2026 No. 298

The government has extended certain support measures for coal industry organizations amid ongoing market conditions. Prime Minister Mikhail Mishustin signed the decree.

Comment

From Mikhail Mishustin's opening remarks at the operational meeting with deputy prime ministers, March 24, 2026

This concerns a deferral of mineral extraction tax and insurance premium payments. The payment deadlines for coal industry organizations have been extended until April 30, 2026. The arrears can be repaid in equal monthly installments from May to the end of November 2026.

Also, until April 30, no penalties will be applied to coal companies for tax arrears and insurance premium arrears, provided that bankruptcy proceedings have not been initiated against the debtor organizations.

"This will free up working capital at promising coal companies for ongoing operations," Mikhail Mishustin noted at a meeting with deputy prime ministers on March 24.

The Government, at the direction of the President, introduced additional support measures for coal companies effective June 1, 2025. Earlier, in May, Mikhail Mishustin held a meeting on the situation in the industry. The Prime Minister noted that it is one of the core industries that ensures the stable operation of key economic sectors, including metallurgy, electric power, and housing and utilities, and also contributes to addressing social issues.

The signed document introduces changes toGovernment Resolution of July 25, 2025 No. 1105.

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Financial news: March 24, 2026. JSC "KAVKAZ.RF" will hold a deposit auction.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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Parameters:

The deposit auction date is March 24, 2026. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 200,000,000. Placement period, days – 57. The date of depositing funds is March 24, 2026. The date of return of funds is May 20, 2026. The minimum placement interest rate, % per annum is 14.65. Terms of the conclusion, urgent or special (urgent). The minimum amount of funds placed for one application (in the placement currency) is 200,000,000. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open).

The Agreement is based on the General Agreement. Schedule (Moscow time). Preliminary bids from 11:20 to 11:30. Competitive bids from 11:30 to 11:40. The cutoff percentage or the auction's invalidity may be determined by 11:55. Additional terms

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Manturov: The Russian Space Forum will discuss the development of the industry and international cooperation.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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The Russian Space Forum, a key industry event, has unveiled its business program architecture. The event, which will take place on April 9 at the Rossiya National Center, will form the core of Space Week, a new annual event established by President Vladimir Putin. The forum will bring together federal government agencies, state corporations, the scientific community, and private businesses to develop strategic solutions for space development. It will also bring together the public to formulate and implement a common strategy for space exploration. The forum's business program covers key issues in space exploration, from the integration of space research into everyday life to lunar and deep space exploration. Special attention is paid to international cooperation: our goal is to create the conditions for more effective interaction between leading global powers and strengthen Russia's role in the global space services market," said Dmitry Bakanov, Director General of the Roscosmos State Corporation.

The "Human Capital: Professions, Lifestyle, and Promotion" track will focus on the industry's interaction with society and the impact of the digital environment on the next generation of professionals.

Space Week will be held in Russia from April 6 to 12. On December 29, the Russian President signed a decree establishing the Week as an annual event. The organizer of Space Week is the state corporation Roscosmos.

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Financial news: Prices rose much less in February than in January.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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In February, the impact of tax and administrative measures on the growth of prices for goods and services decreased.

Price increases have slowed for a wide range of goods whose price dynamics depend more on demand than on one-off factors. Some continued to decline in price (clothing and underwear, knitwear, footwear, and communications equipment).

At the same time, prices for medical and household services increased sharply in February. Demand for these services remains higher than the capacity of service and medical companies, whose growth potential is severely limited by the current labor market situation.

According to the Bank of Russia's forecast, given the current monetary policy, annual inflation will decline to 4.5–5.5% in 2026, and will remain close to 4% in 2027 and beyond.

For more details, see the Bank of Russia's analytical commentary. Inflation in Russia.

Preview photo: Oleg Elkov / TASS

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Financial News: Cooling in the Microfinance Market: 2025 Results.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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In 2025, the volume of loans issued by microfinance organizations (MFOs) stabilized at approximately 0.5 trillion rubles per quarter (2 trillion rubles annually) after a strong increase the previous year. Microloan portfolio growth slowed significantly from 10% at the beginning of the year to 0.7% by the end.

The cooling occurred amid a consistent strengthening of measures aimed at limiting consumer debt. Microfinance organizations (MFIs) are prohibited from using unverified information about borrowers' income—this requirement was introduced to ensure that the true debt burden is not understated.

Macroprudential limits were established for auto loans to prevent overindebted borrowers from migrating into this segment. The regulation helped prevent this trend: the share of auto loans to overindebted borrowers fell to 14% from a peak of 88%.

In response to upcoming restrictions on the number of high-interest loans in operation at the same time, microfinance organizations (MFIs) continue to actively develop products with credit limits, seeking to attract and retain high-quality borrowers. Over the past year, the share of such loans has grown by 14 percentage points, reaching 38% of consumer lending.

In 2025, state-owned mortgage microcredit companies, created to implement preferential mortgage programs, began operating in six Russian regions. Over the course of the year, these companies issued 2.7 billion rubles in mortgage loans to citizens. Agreements were signed for an average of 20 years, and the average loan amount was 6.8 million rubles.

Read more in"Trends in the Microfinance Market for 2025".

Preview photo: Nadiia Korol / Shutterstock / Fotodom

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Financial news: Credit to the economy grew moderately in February.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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In a month credit to the economy increased by 0.4% after a seasonal contraction of 0.5% in January.

Annual growth accelerated from 9.4% to 9.6%. This was driven by a resumption of growth in corporate lending, primarily driven by ruble loans to non-financial organizations. However, consumer lending halted in February.

The postponement of tax payments from the end of February to March, coupled with the growth of corporate lending, led to a significant acceleration in the annual growth of the money supply – from 11.0% in January to 12.4% in February.

Preview photo: Evgeny Messman / TASS

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Russian-Vietnamese negotiations.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Mikhail Mishustin held talks with Prime Minister of the Socialist Republic of Vietnam Pham Minh Tinh. Mishustin: Good afternoon, dear friends! I warmly welcome you, Mr. Pham Minh Tinh. Welcome to the Government House of the Russian Federation.

First of all, I would like to ask you to convey our warmest greetings and best wishes to the General Secretary of the Central Committee of the Communist Party of Vietnam, Comrade To Lam, and the President of Vietnam, Comrade Luong Cuong.

I fondly remember meeting them during my visit to Hanoi last January.

I would like to take this opportunity to congratulate you and all our Vietnamese friends on the successful holding of the 14th Congress of the Communist Party of Vietnam, as well as the recent elections to the National Assembly of Vietnam. The Supreme Party Forum approved strategic objectives to accelerate Vietnam's socioeconomic development. I am confident that these goals will be achieved.

We sincerely value friendly Russian-Vietnamese relations, based on the principles of a comprehensive strategic partnership, mutual respect, and consideration of each other's interests.

Through our governments, we ensure the effective implementation of agreements reached at the highest level. We are already implementing the Comprehensive Plan for Cooperation between Russia and Vietnam until 2030. As a reminder, it was approved in Hanoi last January.

We place particular emphasis on expanding trade and economic cooperation. We propose continuing our joint efforts to increase mutual trade turnover and diversify its structure.

We also see our common goal in creating favorable conditions for the growth of mutual investment and the launch of new projects in industry, energy, transport infrastructure, agriculture, and many other areas.

Following today's negotiations, an intergovernmental agreement was signed on the construction of the first nuclear power plant in Vietnam.

The creation of a nuclear power plant will provide a powerful impetus to the development of cooperation in related fields – high technology, fundamental and applied scientific research.

I am confident that this project will become a new symbol of Russian-Vietnamese friendship.

In the oil and gas sector, following intergovernmental agreements, Zarubezhneft and PetroVietnam have signed agreements that will enable the practical implementation of projects to develop oil fields in Russia and Vietnam.

We place particular emphasis on strengthening humanitarian ties. Russian Culture Days are currently taking place in Vietnam. We are delighted that many generations of Vietnamese know and love Russian culture and art.

Vietnamese resorts are popular with Russian tourists. We continue to create favorable conditions for further increasing mutual tourist flows.

Dear Comrade Pham Minh Tinh, I look forward to discussing with you the most pressing issues on the Russian-Vietnamese agenda. It is my pleasure to hand the floor over to you.

To be continued…

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