Financial news: Imports rose in Q2 while exports fell.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Imports in the second quarter of 2025 expanded compared to the same period last year, largely due to services, including increased spending by Russians on trips abroad. The growth of imports of goods was restrained by factors such as an increase in the recycling fee, large inventories, and high interest rates on loans.

Exports, on the other hand, remained below last year's level. This was due to lower world prices for oil and coal, OPEC oil production restrictions, reduced grain stocks and export quotas.

As a result of the decline in exports and the increase in imports in dollar terms, the current account surplus declined in the second quarter.

Read more in the quarterly issue of the information and analytical commentary "Balance of Payments of the Russian Federation".

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Dmitry Grigorenko reported to President Vladimir Putin on the development of the state services portal, the fight against fraud and bureaucracy

Translation. Region: Russian Federal

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

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Russian President Vladimir Putin held a meeting with Deputy Prime Minister and Chief of Staff of the Russian Government Dmitry Grigorenko. The meeting was devoted to discussing the development of the government services portal, measures to combat fraud and the digital transformation of public administration.

Meeting of Vladimir Putin with Deputy Prime Minister – Chief of Staff of the Government of Russia Dmitry Grigorenko

Dmitry Grigorenko reported to the head of state on a new approach to providing government services – transferring them to the format of "life situations". Each such service on average combines about 17 government services and helps to receive them comprehensively, quickly and in a "single window" mode. This approach allows collecting all the services needed by a citizen in a specific situation on one page – there is no need to search for each of them on the pages of different departments. The Deputy Prime Minister emphasized that the launch of "life situations" significantly reduces the time frame and simplifies the procedure for providing services.

"When we switch to 'life situations', on average the service provision time is reduced by 35%, the number of documents is reduced by a third, the number of visits to receive the service is reduced by two thirds – by 64%. This is really very convenient," noted Dmitry Grigorenko.

Context

Meeting of Vladimir Putin with Deputy Prime Minister – Chief of Staff of the Government of Russia Dmitry Grigorenko

The most popular service was for online university admissions. More than 2 million people used it. The top five most popular "life situations" also included services for large families, for arranging retirement, participating in sports competitions, and going hunting and fishing.

Particular attention was paid to the issues of citizens' security in the digital environment. Dmitry Grigorenko reported to the President on the Government's development of a second package of measures to protect citizens from fraudsters. Among the key initiatives is the possibility of imposing a ban on international calls. The Deputy Prime Minister noted that in order to deceive citizens, criminals often use foreign numbers or are actually located abroad.

He also stressed that within the framework of the second package of measures, the Government is considering the possibility of introducing liability for the use of artificial intelligence by fraudsters when committing offenses. He added that criminals are increasingly using AI in their schemes to deceive citizens.

At the request of the President, the first package of 30 initiatives to combat telephone and Internet fraud was adopted at the beginning of this year. It provides for mandatory labeling of calls from organizations, a ban on the use of messengers by employees of government agencies, banks and telecom operators when communicating with clients, and a number of other measures.

Among the most popular measures of the first package, Dmitry Grigorenko highlighted the possibility of issuing a self-prohibition on loans and credits through the public services portal. To date, about 15 million Russians have established such a self-prohibition. It can be applied to any consumer loans and credits. Restrictions can be either complete or partial. For example, only remote registration of loans can be prohibited.

The law prepared by the Government on criminal liability for droppers – persons who provide their bank cards or e-wallets for the transfer of illegal funds – also came into force. The law provides for imprisonment of up to three years for front men through whom stolen money is cashed, and up to six years for the organizers who recruit droppers, coordinate transfers and receive the main income from the schemes.

Dmitry Grigorenko emphasized that the Government is systematically strengthening measures to protect citizens from fraudsters.

"All work is carried out jointly with the Central Bank and with colleagues from law enforcement agencies. We even created a kind of advisory body within the Government. We meet regularly, and the measures themselves are formed based on an analysis of practice, what is happening on the market, the situation," noted Dmitry Grigorenko.

Another topic of the meeting was the discussion of tasks for debureaucratization and digitalization of processes within government bodies. The government is scaling up a pilot project to optimize document flow to federal ministries and departments. It is aimed at reducing the bureaucratic burden in the public administration system and increasing the real efficiency of the state apparatus.

Since the beginning of 2025, such a project has been launched at the Government Office. Today, all of its structural divisions are already participating in it. Clear KPIs have been set for each of them to reduce bureaucracy. According to Dmitry Grigorenko, thanks to digitalization, the share of electronic document management in the Government Office has already exceeded 90%, and the time it takes to prepare government decrees and orders has been reduced by 4 times.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial News: Risks of Money Laundering and Terrorist Financing in the Financial Sector: Bank of Russia Assessment

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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The Bank of Russia assessed the risks of money laundering and terrorist financing (ML/FT) in the financial sector over the past 5 years andpublishes a report on the results.

This work is carried out taking into account the recommendations of the Financial Action Task Force on Money Laundering (FATF).

The regulator has formed an assessment of the risk level for each sector of the financial market supervised by the Bank of Russia. The probability of various schemes being manifested in them has been analyzed, and characteristic features of income laundering methods have been identified. This information helps to increase participants' awareness of ML/FT risks and the effectiveness of work to prevent them. Based on this data, the regulator is developing measures to reduce the possible use of financial institutions in illegal activities.

The Bank of Russia conducted a sectoral risk assessment taking into account the results national risk assessments money laundering and terrorist financing.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Marat Khusnullin: During the large-scale reconstruction of the M-4 "Don", 20 artificial structures will appear

Translation. Region: Russian Federal

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

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The government is carrying out systematic work to develop the country's road network. This includes the construction of new roads and the renovation of existing highways. Thus, in the Rostov Region, the reconstruction of the M-4 "Don" highway from the 933rd to the 1024th km is ongoing. More than 207 thousand cubic meters of soil have already been excavated at the site, and the construction and reconstruction of 12 artificial structures has begun. This was reported by Deputy Prime Minister Marat Khusnullin.

"The formation of the country's road framework is an integral part of its strategic development. To improve the transport accessibility of the regions, the most important highways, such as the M-4 "Don", are being actively reconstructed. In the Rostov Region, work is underway on a section more than 90 km long, which passes through several districts and the cities of Kamensk-Shakhtinsky and Shakhty. This route is the main artery leading to the Black Sea coast. It contributes to the development of domestic tourism and the economy of the southern regions of the country. The highway is also part of the North-South corridor and helps establish cooperation with friendly countries, so its modernization is extremely important. Thus, the reconstruction project provides for the expansion of the road to six lanes to improve safety and throughput. A lot of work has already been done. In addition, the construction of four overpasses for future interchanges, the reconstruction of three bridges and five overpasses has begun at the site. “In total, during the large-scale operation, existing bridge structures will be repaired and four new ones will be built,” said Marat Khusnullin.

The Deputy Prime Minister specified that four new overpasses for future interchanges are being built at 936 km, 939 km, 1013 km and 1023 km. Currently, supports are being installed, and span structures are being prepared for installation. Specialists are carrying out preparatory work on bridges at 950 km and 979 km. At the same time, reconstruction work is being carried out on overpasses at 983 km, 990 km, 998 km, 1000 km, 1001 km and the bridge at 1009 km, where it is planned to dismantle obsolete structures and build new ones. It is also planned to reconstruct overpasses at 944 km, 960 km, 964 km, 969 km, 982 km, 984 km, 993 km, and 1002 km.

According to the Chairman of the Board of the state company Avtodor, Vyacheslav Petushenko, the M-4 Don is one of the most popular roads among motorists, so work on the site is organized in such a way as to maintain the usual traffic.

"To maintain the usual traffic intensity during the reconstruction, we are setting up temporary bypass roads with the same number of lanes as on the main highway. This ensures uninterrupted traffic on this section of the road and maintains a high pace even during rush hour. To date, a significant amount of excavation work has been completed at the site. More than 207 thousand cubic meters of soil have been excavated, and about 130 thousand cubic meters of embankment have been poured for the construction of temporary bypass roads. The reconstruction of this section of the M-4 "Don" is a continuation of the modernization of the section from the 804th to the 933rd km, which was completed last year. The work will improve road safety and make trips to the south even more comfortable and faster for road users," said Vyacheslav Petushenko.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: On changes in the mechanism for executing perpetual futures on indices, precious metals and shares of Russian issuers

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

From August 29, 2025, changes will be made to the specifications of one-day futures contracts with automatic rollover on indices, precious metals and shares of Russian issuers in terms of the contract execution mechanism.

By analogy with perpetual currency futures, a one-time payment of 3% of the nominal value of the contract is introduced, which is paid by the client who submitted the execution order in favor of the client whose positions were executed without submitting the order.

The changes are intended to unify the contract execution mechanism introduced in April 2025 for perpetual currency futures with other perpetual contracts and to increase the predictability of working with instruments for all categories of clients.

In connection with testing the new contract execution mechanism, the nearest date for submitting orders for execution of IMOEXF, GLDRUBF, SBERF, GAZPF futures is postponed from September 4 to December 4, 2025. Thus, in September, the submission of orders for execution under these contracts is not provided. The date for submitting orders for execution of USDRUBF, CNYRUBF, EURRUBF contracts remains unchanged – September 4, 2025.

The execution of orders is carried out in the manner prescribed by the clearing rules of the NCO NCC (JSC) and the specifications of contracts:

execution of orders takes place in the evening clearing of the day of submission of the order; when executing orders, a clearing commission of 0.1% is charged, as well as a one-time payment of 3% of the nominal value of the contract, which is paid by the party that submitted the order for execution in favor of the party whose positions were executed without the submission of the ordery1sh. The formula for calculating the payment is reflected in the specification; execution is carried out by two transactions: closing a position in a one-day contract and opening a position in the nearest quarterly futures (these transactions are carried out at the settlement price of the perpetual contract during evening clearing); first, the counter orders are executed; the remaining orders that are not executed as a result of the execution of the counter orders are executed without submitting an order; the selection of settlement codes, the positions of which are executed without submitting orders, occurs proportionally to the volume of open positions in descending order of the volume of open positions (opposite direction).

Detailed information on the dates of submission and execution of orders, as well as the execution mechanism, is provided on the pages HTTPS: //VVV. MEEX.K.M.K., HTTPS: //VVV. MEEX.K.M.M., HTTPS: //VVV. MOEX.MO/A8803 And HTTPS: //VVV. MEEX.MO/A8805.

New editions of the perpetual contract specifications have been posted on the Moscow Exchange website HTTPS: //VVV. MOEX.K.M.K..

y1sh Clearing fees are charged to all clients whose positions were executed on the order. A one-time fee is not charged in the case of execution of two counter orders and is charged if the execution of the order resulted in execution of contracts of the party that did not submit the order. Contact information for the media 7 (495) 363-3232Pr@moex.kom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial News: Microloan Market Returns to Growth with More Affordable Loans

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The market driver in Q2 2025 was loans with a moderate interest rate, where the total cost of credit (TCC) does not exceed 100% per annum. First of all, this is the issuance of new tranches within previously opened credit lines for the purchase of goods on marketplaces and online retail outlets. At the same time, the share of the most expensive loans decreased to 47.6%, falling below half of quarterly consumer loans issued by microfinance organizations (MFOs) for the first time.

The volume of loans issued by microfinance organizations associated with the largest marketplaces and non-banking settlement credit organizations once again exceeded the figures of independent microfinance organizations, which, on the contrary, have been declining in loans for the second quarter in a row.

The quality of the MFI loan portfolio has worsened in both the business and consumer loan segments: the level of overdue loans over 90 days has increased after a long decline. The main reason was the maturing of overdue loans on consumer loans issued in Q4 2024 and Q1 2025. Only 11% of the volume of loans issued during this period ended in full repayment, with clients not taking out new loans. Almost half of the loans were issued to borrowers who, after repaying one loan, took out a new one and fell into a debt spiral, and in 20% of cases, their debt increased. Among loans with overdue payments, in every fourth case, borrowers failed to cope with the debt burden on the first payment. On the one hand, this indicates excessive indebtedness of citizens, and on the other, the continued increased risk appetite of MFIs.

The introduction of a new system of credit will help reduce the debt burden of citizens the obligation to take into account only the official income of the borrower when assessing his debt burden, and also limiting the number of expensive loans in operation at the same timeand establishing a cooling-off period between them.

Read more in"Trends in the MFI market for the second quarter of 2025".

Preview photo: YesPhotographers / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 08/26/2025 JSC “SME Corporation” will hold a deposit auction.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Parameters;

Date of the deposit auction 08/26/2025. Placement currency RUB. Maximum amount of funds placed (in the placement currency) 175,000,000. Placement term, days 29. Date of depositing funds 08/26/2025. Date of return of funds 09/24/2025. Minimum placement interest rate, % per annum 17. Terms of the conclusion, urgent or special (Urgent). Minimum amount of funds placed for one application (in the placement currency) 175,000,000. Maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open).

The basis of the Agreement is the General Agreement. Schedule (Moscow time). Preliminary bids from 10:30 to 10:40. Competitive bids from 10:40 to 10:50. Setting the cutoff percentage or declaring the auction invalid before 11:30. Additional terms.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: Over a thousand bonds will become available to investors at evening trades on the Moscow Exchange

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

From August 26, 2025, during the evening trading session of the Moscow Exchange stock market, investors will be able to make transactions even with 987 bonds, including corporate and municipal bonds.

The total number of bonds available in the evening period will reach 1,320.

In addition to bonds, trading participants and their clients can conduct transactions with shares and fund units during evening trading.

Private investors are the main participants in the evening trading session, accounting for about 70% of the total volume of transactions in evening trading. Since the beginning of 2025, individuals have invested 1.25 trillion rubles in bonds on the Moscow Exchange, which is twice as much as in the same period last year.

Corporate bonds became available at evening trading from May 20, 2025.

Evening trading gives investors the opportunity to make deals at a time convenient for them. The evening session begins with the opening auction (from 19:00 to 19:05), trading takes place from 19:05 to 23:50.

General list of tools, available at evening trading on the stock market, is posted on the Moscow Exchange website.

Moscow Exchange is the largest Russian exchange, the only multifunctional platform in Russia for trading shares, bonds, derivatives, currencies, money market instruments and commodities. The Moscow Exchange Group includes a central depository, as well as a clearing center that performs the functions of a central counterparty in the markets, which allows Moscow Exchange to provide clients with a full cycle of trading and post-trading services.

Contact information for media 7 (495) 363-3232Pr@moex.kom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 08/25/2025, 12:53 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the SU26231RMFS9 security (OFZ 26231) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

08/25/2025

12:53

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on August 25, 2025, 12:53 (Moscow time), the values of the upper limit of the price corridor (up to 18:18) and the range of market risk assessment (up to 207.81 rubles, equivalent to a rate of 60.0%) of the SU26231RMFS9 security (OFZ 26231) were changed.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 08/25/2025, 11:29 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZYU21 (ALPHA BO40) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

08/25/2025 11:29

In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC) on 08/25/2025, 11-29 (Moscow time), the values of the upper limit of the price corridor (up to 123.02) and the range of market risk assessment (up to 1410.94 rubles, equivalent to a rate of 28.5%) of the security RU000A0ZYU21 (ALPHA BO40) were changed

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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