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

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

A Step into the Future: IPMEiT Day at the Polytechnic Institute of Secondary Vocational Education

Translation. Region: Russian Federation –

Source: Peter the Great St. Petersburg Polytechnic University –

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The Institute of Secondary Vocational Education at SPbPU held an IPMEiT Day. The event brought together ISPO students and representatives of the Institute of Industrial Management, Economics, and Trade. ISPO students learned about the program's program offerings, their practical focus and competitive advantages, the educational environment, and career prospects. They were also able to ask questions about admission and education.

Daria Shevchuk, one of the meeting's organizers, welcomed the participants. She introduced the structure of IPMEIT, discussed the undergraduate and specialist degree programs, the curriculum, and graduate employment opportunities.

Maxim Ivanov, Deputy Director for Advanced Projects and Youth Policy at the Institute of Economics, Management, and Telecommunications, introduced students to the institute's extracurricular activities. He spoke about student associations, city-wide and university-wide projects, emphasizing that participation in these activities helps develop leadership skills and professional competencies.

The meeting focused on a practice-oriented approach to education. A series of "professional auditions" were also held by representatives of the Institute of Industrial Management and Telecommunications (IPMEIT) higher education institutions. Ivan Volchkov, Assistant Professor at the Higher School of Industrial Management, conducted a master class on "Fundamentals of Production Logistics," where students were introduced to the principles of lean manufacturing and supply chain management. Students from the Institute of Industrial Management and Telecommunications (ISPO) were introduced to the "Production Process Factory" training and practical laboratory, where modern logistics systems and digital management solutions are simulated.

The Higher School of Service and Trade organized the intellectual game "Tourism Olympus" in a "Joint Game" format. Students worked in teams and answered questions on geography, travel, and the tourism industry, solved logic puzzles, and learned more about professions in tourism and hospitality. The game was led by Anna Karmanova, Associate Professor at the Higher School of Service and Trade and Head of the Service Program, and Ekaterina Tatyanina and Alexandra Skripkina-Kibas, second-year students in the Service and Hotel Management programs.

Ekaterina Ryabizo and Anna Maksimova, specialists from the Higher School of Public Administration, invited students to try their hand at urban planning supervision. Teams developed concepts for urban facilities, determined their locations, and substantiated their compliance with regulatory requirements, presenting their findings in the form of a "facility passport."

Vadim Shabunin, a Master's student at the Higher School of Business Engineering, led a master's class, "What is Business Analytics." He introduced ISPO students to the fundamentals of business analysis. The master class served as a first step toward a career as an analyst. The students learned about the key responsibilities of a business analyst, their interaction with artificial intelligence, and tried their hand at modeling business processes.

Another interactive format was the economic game "The Economy of Goodness in Action," led by first-year students majoring in Economics at the Higher School of Engineering and Economics, Daniil Velichko and Yegor Skidanenko. They presented their own quiz. "Economic Problem" and "Guess the First Time" allowed ISPO students to demonstrate not only their professional competencies but also their resourcefulness, sense of humor, and teamwork skills.

"It's important for us not only to share information about the programs offered at the Institute of Mechanics, Economics, and Technology, but also to provide ISPO students with the opportunity to explore various professional roles. This format helps them better understand their future specialty, recognize its practical significance, and make an informed choice of educational path," noted Maxim Ivanov, Deputy Director for Advanced Projects and Youth Policy at the Institute of Mechanics, Economics, and Technology.

The IPMEiT Day at ISPO was held in an interactive format and friendly atmosphere, allowing students not only to broaden their understanding of future educational opportunities at Peter the Great St. Petersburg Polytechnic University but also to gain first-hand experience in a variety of fields—from public administration to business analytics and logistics.

ISPO students were able to try themselves in a variety of professional roles. "We strive to ensure that every day spent at the university brings students closer to their future careers," noted Irina Zaychenko, Head of the Educational Programs Directorate.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 03/23/2026, 14-39 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JXXE1 (Rosnft1P7) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 23, 2026

14:39

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the National Credit Center (JSC) on March 23, 2026, 14:39 (Moscow time), the values of the upper limit of the price corridor (up to 100.07) and the range of market risk assessment (up to 1054.13 rubles, equivalent to a rate of 10.0%) of the security RU000A0JXXE1 (Rosnft1P7) were changed.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 03/23/2026, 14-38 (Moscow time) the values of the lower limit of the price corridor and the range of market risk assessment for the security RU000A107RH8 (RUSAL 1P6) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 23, 2026

14:38

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the National Credit Center (JSC) on March 23, 2026, 14:38 (Moscow time), the values of the lower limit of the price corridor (up to 92.72) and the range of market risk assessment (up to 10775.31 rubles, equivalent to a rate of 10.0%) of the security RU000A107RH8 (RUSAL 1P6) were changed.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 03/23/2026, 14-00 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10B0T2 (RZhD 1P-39R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 23, 2026

2:00 PM

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the National Credit Center (JSC) on March 23, 2026, at 2:00 PM (Moscow time), the values of the upper limit of the price corridor (up to 125.1) and the range of market risk assessment (up to 1357.38 rubles, equivalent to a rate of 21.25%) for security RU000A10B0T2 (RZhD 1P-39R) were changed.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: 03/23/2026, 12:47 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A0JWUB5 security (TBankBO12) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 23, 2026

12:47

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the National Credit Center (JSC) on March 23, 2026, 12:47 (Moscow time), the values of the upper limit of the price corridor (up to 103.67) and the range of market risk assessment (up to 1111.49 rubles, equivalent to a rate of 18.75%) for the security RU000A0JWUB5 (TBankBO12) were changed.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: On March 23, 2026, JSC KAVKAZ.RF will hold a deposit auction.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Parameters:

The deposit auction date is March 23, 2026. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 320,000,000. Placement period, days – 97. The date of depositing funds is March 24, 2026. The date of return of funds is June 29, 2026. The minimum placement interest rate, % per annum is 14.55. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 320,000,000. 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 1:00 PM to 1:10 PM. Competitive bids from 1:10 PM to 1:20 PM. The cutoff percentage or the auction's invalidity may be determined by 1:40 PM. Additional terms and conditions

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Access only by list: Russia changes rules for vessel entry for container giants.

Translation. Region: Russian Federation –

Source: KMZ Cargo – KMZ CARGO –

An important disclaimer is at the bottom of this article.

The draft presidential decree allows only carriers with a Russian stake of over 50%, their own fleet, and consent to Russian jurisdiction to operate on routes to Russian ports. Of the ten largest global operators, only MSC is exempt.

The draft presidential decree introduces a set of restrictions on the operation of container shipping lines calling at Russian ports. The document allows only Russian-controlled companies operating their own fleet and agreeing to Russian jurisdiction over disputes to engage in such shipping. Of the ten largest global container operators, only the Swiss Mediterranean Shipping Company (MSC) is not included in the exemption list, Kommersant reports.

According to the draft decree, which the publication's sources have reviewed, a company associated with an unfriendly country will be required to comply with a set of six conditions in order to conduct regular foreign trade sea container shipping calling at least at one Russian port.

According to the document, the ship owner, carrier, and line operator must be registered under Russian law. The ultimate Russian beneficiary's share in the company structure must exceed 50%. The Ministry of Transport's proposed position, incorporated into the draft, stipulates a requirement for vessel and ship owner liability insurance with Russian companies or reinsurance in Russia.

The draft decree also includes a provision on consent to the arbitration of disputes in Russian courts if the plaintiff chooses such jurisdiction. Furthermore, carriers are required to prioritize the acceptance and transportation of sanctioned cargo, as well as cargo from sanctioned senders or recipients.

As follows from the draft's appendix, a separate condition is the requirement that vessels operating on the line be owned by the operator. Transportation along the entire route from the country of origin of the goods to the Russian Federation and back must be carried out exclusively by the operator's own vessels.

Ten companies are included in the list of entities with which ship owners, carriers, or operators are prohibited from contacting. According to the document, the list includes Danish Maersk, French CMA CGM, German Hapag-Lloyd and BREB, Dutch Samskip, Hong Kong OOCL, British X-Press Container Line (UK) Limited, Korean KMTC and HMM, and Japanese ONE. MSC, the world's largest container carrier, is not included.

Lawyers interviewed by the publication noted the ambiguity in the document's wording regarding the specific restrictions that apply to companies on the list. A corporate lawyer, who wished to remain anonymous, points out that the literal wording—"is not a person directly or indirectly owned, managed, used, or otherwise controlled"—implies an outright ban. He believes that a literal interpretation would prohibit any participation, even minority stakes, in listed entities. At the same time, as follows from the draft text, the Ministry of Transport is granted the authority to issue temporary permits for transactions with such entities.

A Kommersant source in the industry, familiar with the logic behind the document's preparation, explains that the initiative's goal is to restrict access to "unfriendly" linear services and replace them with lines under Russian corporate, property, insurance, and procedural control.

Another industry source told the publication that the draft's provisions could create obstacles to the development of container shipping. He believes that, given the current level of development of national shipping companies and their limited geographic reach, replacing the capacity of global operators is virtually impossible. He added that this threatens to reduce vessel calls at domestic ports and redistribute cargo flows in favor of international hubs. A Kommersant source in the port industry estimates a potential decline in container terminal utilisation at 40-60%.

A Kommersant source among shippers notes that if the initiative is implemented, the main victims will be Russian exporters and importers, who will lose the ability to attract partners even from friendly countries.

A Kommersant source points out that strict requirements for Russian registration, ultimate beneficial owner control, and vessel ownership limit market access for a wide range of foreign operators. They explain that to ensure Russia's cargo turnover, a large-capacity container fleet is necessary, which is often the subject of investment agreements between carriers and banks that prohibit changes in ownership.

Another Kommersant source calls the ownership clause a radical tightening of the current legal framework. He believes this formula should be expanded to include legal ownership, allowing for the use of vessels through leasing or charter.

Furthermore, as the publication's source notes, the requirement for transportation exclusively by own vessels limits the use of multimodal schemes involving partner lines and feeder operators. In some ports, according to the source, this makes transshipment impossible due to technical constraints.

A Kommersant source in the industry draws attention to the provision requiring the mandatory transportation of sanctioned cargo. He warns that, given the extraterritorial nature of the sanctions, this requirement could lead to the blocking of such cargo at foreign ports and, consequently, the complete closure of carriers' operations.

Kommersant's sources propose relaxing a number of requirements. These include allowing the use of chartered vessels, which, according to their information, currently transports the majority of Russian container cargo. They also believe it would be appropriate to make the requirements regarding the Russian shareholding more flexible for operators willing to provide priority service to Russian cargo and subject it to the jurisdiction of Russian courts. Furthermore, the publication's sources propose expanding the Ministry of Transport's authority to issue temporary permits to operators that do not fully comply with the draft requirements.

As a reminder, Western companies control almost three-quarters of global container shipping. Just three operators—Danish Maersk, Swiss-Italian Mediterranean Shipping Company, and French CMA CGM—combined to account for over 45% of the container capacity market. Carriers from the world's major shipping countries, with the exception of China's COSCO, which is among the top five, significantly lag behind them in terms of global reach. LR

Read more:http://logirus.ru/nevs/transport/pass_only_by_list_Russia_changes_rules_of_ship_entry_for_container_giants.html

Publication date: 03/23/2026

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