We wouldn’t want the Russian companies to ignore the domestic market too much. We would like a Russian investor to have an easy and simple access to Russian assets.

The market will continue growing, but at a slow pace, for fundamental reasons, including forecasts of oil prices.

I believe today’s agreement between the RTS and S&P is a deservingly important event, not only for the two parties involved but for the Russian market in general.

This explains the stability of the Russian stock market – it does not grow rapidly after the January upsurge and it is unlikely to drop suddenly.

We must provide the Central Bank with more flexible Stabilization Fund investment portfolio, while giving a small sum of about $1 billion to investment companies, to see whose management is more effective.

This restriction will be subsequently lifted and will not discredit investors because they can place 70% of their issue in depositary receipts.

This is a matter for the Central Bank, which has a very cautious policy. We aren’t going to see any sharp changes.

The 30% requirement is $0.5 billion at best and does not create a problem for large companies.

Unfortunately, the infrastructure of Russia’s securities market has developed in a speculative way.