Despite the last minute present shopping rush in the 52nd week, the index has been running behind the last three years for almost all of 2017.
Wealthy Russians are ploughing money into the German real estate sector, mostly picking housing and commercial projects in the range of €1-7mn
In the near term there is a risk of Belarusian oil infrastructure being disrupted due to political disputes with Russia.
There are several trends in international and Ukrainian politics that lead to a not very optimistic conclusion: 2018 will be a challenging year.
The Russian government has allocated RUB600bn to offer subsidised mortgages to young families