Research Journal |dossier|

ENVIRONMENT FRIENDLY RESEARCH JOURNAL
RISK AND SCENARIO IDENTIFICATION
ECONOMIC COMPLAINTS & APPETITE
EXPORTERS ALL RUSSIA | ANNUAL REPORTS 2015
NO ADVERTISING
For informational Use
Based on Publicly Available Source
GLOBAL DOSSIER

List of Companies
ROSTEC page 3
RUSNANO page 12
ROSATOM page 7
ROSCOSMOS page 10
Multi Sectors Companies
En+GROUP
GROUP OF COMPANIES TITAN | OMSKY KAUTCHUK PJSC |POLIOM LLC |POLYPROPYLENE
AGROCOM GROUP
GROUP OF COMPANIES SODRUGESTVO
HOLDING COMPANY GUTA
TAIF GROUP OF COMPANIES
TAIF NK
NKNH PJSC
GROUP OF COMPANIES RENOVA
Aerospace & Defense PAGE 13
V. A. DEGTYAREV PLANT |10,981 People
URALVAGONZAVOD | 70,000 People
USC UNITED SHIPBUILDING CORPORATION
ALMAZ-ANTEY JSC 98,000 People
TACTICAL MISSILES CORPORATION JSC 2,796 People
THE STATE ENTERPRISE AVANGARD 2,400 People
FEDERAL STATE ENTERPRISE BIYSK OLEUM PLANT
FSE PLANT NAMED AFTER Y. M. SVERDLOV |5,500 People
FSE KAZAN STATE POWDER PLANT
CONCERN GRANIT-ELECTRON JSC
CONCERN MARININFORMSYSTEM-AGAT JSC
SPECTRLASER LLC
BG-OPTICS LLC
UNITED AIRCRAFT CORPORATION| SUKHOI 101,380 People
Industrial Goods & Services PAGE 15
TROLZA JSC
TRANSMASHHOLDING JSC
RPM GROUP RUSSIAN RAILWAYS COMPANY
RYAZAN STATE INSTRUMENT-MAKING ENTERPRISE
ELECTROZAVOD JSC
AVESTA
SUDOEXPORT
ESSP
RUSELPROM
ELTEZA JSC
ROSTSELMASH
GEOMASH-CENTRE LLC
GROUP OF COMPANIES STAN LLC
POWER MACHINES
UNITED HEAVY MACHINERY PLANTS
BTK GROUP
UNITED POWER TECHNOLOGY JSC
PRODUCTION COMPANY TVEMA
JSC RESEARCH PRODUCTION COMPANY MEDIANA-FILTER
TYAZHMASH 5467 People
THE STRUCTURE PRE RADICO LLC
GEOTECH LLC
Chemicals PAGE 16
AVGUST CROP PROTECTION JSC
EUROCHEM 23,400 People
URALKALI
PHOSAGRO
URALCHEM
ACRON
SBU AZOT
TOGLIATTIAZOT 5,271 People
BSC CHEMICALS
SHCHEKINOAZOT
ALEKSINSKY CHEMICALS COMBINE
Oil & Gas PAGE 17
RUSGASENGINEERING
SCF GROUP (SOVCOMFLOT) PJSC
NOVOMET
KAZAN MOTORBUILDING PRODUCTION ASSOSIATION
LUKOIL GROUP
SURGUTNEFTEGAS
TATNEFT
BASHNEFT PJSC
ROSNEFT
SIBUR
RUSSNEFT COMPANY
NOVOTEK
NIZHNEKAMSKNEFTEKHIM PJSC
ANTIPINSKY REFINERY
TRANSNEFT JSC
ERIELL
IGS GROUP OF COMPANIES
GAZPROM
IPC
IRKUTSK OIL COMPANY
STROYGAZMONTAZH
OMK
KOKSOCHEMONTAZH
Alternative Energy
RUSHYDRO
QUADRA-POWER GENERATION PJSC
Basic Resources Industrial Metals & Mining
NORILSK NICKEL
URAL MINING & METALLURGICAL COMPANY
NLMK
SEVERSTAL
MAGNITOGORSK IRON & STEEL WORKS
MECHEL
METALLOINVEST
POLYUS GOLD
SUEK
POLYMETAL INTERNATIONAL PLC
ALROSA
EMCO EAST MINING COMPANY
KRASTSVETMET
PETROPAVLOVSK
RUSAL
INDUSTRIAL METALLURGICAL HOLDING
ALUMINIUM PRODUCTS
RUSSIAN COPPER COMPANY
Pharmaceuticals & Biotechnology
PHARMAPARK LLC
FEDERAL STATE UNITARY ENTERPRISE MOSCOW ENDOCRINE PLANT
PHS PHARMSTANDART
HUMAN STEM CELLS INSTITUTE
R-PHARM
CHEMRAR
Food Producers
RUSAGRO GROUP
CHERKIZOVO GROUP
EFKO GROUP OF COMPANIES
UNICONF
YASNIE ZORI HOLDING COMPANY
YUG RUSI
PRIOSKOLIE
SUN PRODUCTS
NMGK GROUP OF COMPANIES
OSTANKINO
PRODIMEX
AGROCOMPLEX
ASTON
MIRATORG
UNITED GRAIN COMPANY | SUMMA GROUP

EXPORTERS ALL RUSSIA | COMPLAINTS & APPETITE
|DossieR|ROSTEC | Company’s foreign ties
Foreign Capital/Shareholders/Joint Ventures/Subsidiaries/Afﬁliates
Zimbabwe: Integrated development of deposits of platinum group metals in the Valley Darvendeyl;
Egypt: Al Amal Joint car production;
Uniti Ltd - Joint Venture with Allegheny Technologies Incorporated (USA);
UAE: International RotorCraft Services, FZC - Joint Venture with Airfreight Aviation Ltd;
Mirada Rotorcraft Industries GmbH
Service Centers in Sri Lanka and South Africa;1
Foreign Directors
Foreign Contract/Agreement/Transaction/Deals
India: Reliance Defense Limited - memorandum of understanding
China: Agreement with ZTE; Agreements with OED Group Limited & LD.COM; Strategic Agreements with NORINCO (G) & CSGC; long-term Agreement with AVIC Aircraft Company Ltd, XI’an
Brabch (PRC);
France: Agreement with Microturbo (Safran); Agreement with Sagem Defense Securite;
Austria: Agreement with http://www.Frequentis.com/;
Germany: Contract with https://www.Rohde-Schwarz.com;
Italy: Preliminary Rational with Pirelli S.p.a. & Synthos S.A.;
Singapore: Agreement with ST Electronics (Concern Singapore Technologies);
UAE: Service Support AAL Group Ltd;
Foreign Mergers/Acquisitions
Debt in Foreign Bank/Obligee
2015 Accounts payable
Foreign Partnership
Safran - PowerJet (engines SaM-146, SSJ-100); General Electric; AgustaWestland - Helivert; Curtiss Wright;
Imported Processing Equipment and Technology2
Germany: DMG; PORTATEC; Carl Zeiss;
Japan: Yamazaki Mazak, Amada;
e-Procurement/Enterprise Resources Planning (domestic/foreign ratio)
http://www.rt-ci.ru/index.php/raskrytie-informatsii/vse-zakupki/zakupki-august?showall=&start=1
Current Foreign Market
China, Hungary, Iran, India, Saudi Arabia, Bangladesh, France, Cuba, Italy, Zimbabwe, Uganda, Germany, Austria, UAE, Pakistan, Egypt, Pery, Myanmar, Uruguay, Vietnam
For service: Kazakhstan; Uzbekistan; Libya; Sudan; Turkey, Mexico;
Perspective Foreign Markets
Middle East, Southeast Asia, Latin America; CIS
Annual Report Novosibirsk Aircraft Repair Plant JSC1
Annual Report 2015 Rostec State Corporation2
3

IDENTIFICATION RISKS & SCENARIOS_____________________________________________________
APPETITE
- Focus "smart" civil products in fast-growing global markets where it is easier to grow, as for the rapid growth is sufficient to rise to the level of the other
players;
- Increasing the [operations efficiency] * for the release of internal resources to finance the growth and competitiveness of products;
- Creation of partnerships and involvement of "smart" capital to obtain additional funding and accelerating increase [OE] * and entering new markets;
- The mechanism of realization of two elements: cascading strategy to the strategy of the State Corporation branch complexes holding companies and
direct management organizations and on to product strategies;
- implementation of strategic initiatives under the control of the Project Office;
Strategic Initiatives:
- Increase of investment attractiveness of the assets and search for strategic partners;
- Formation of an effective system of sales;
- The development of the product portfolio and the priority R & D projects;
- Building a world-class production system;
- Improved management of small-caps projects;
- Formation of effective investment procedures and [pool] investment projects;
- Formation mechanism of redistribution of resources between the clusters and the holding company;
- Login in the top ten world's largest industrial corporations in terms of revenue;
- The financing of investment projects for its own account;
- Raising productivity to the level of the best quarters of global players;
- By 2035 Rostec expects to become a global player in high-tech markets, like Samsung, Siemens, GE, and become a world leader in 2-3 segments;
- Revenue growth of the [aviation cluster] in an average of 14% in ruble terms to 2025;
- Occurrence of the aviation Cluster products in the promising Russian aircraft, such as SSJ-100 and MC-21;
- Supply components for foreign aircraft manufacturers, which will ensure long-term growth and stability*
- International certification;
- Development of after-sales service;
- over the next 10 years the average annual revenue growth of the [electronics cluster] is not the level of 21% is planned, and the growth of civil products
from 8% to 50% by 2025;
- important task is the testing of various forms of cooperation - investment, technological and financial - by launching pilot projects;
- Revenue growth in general engineering Cluster by an average of 30% per annum in rubles until 2025;
- Aggressive growth will require implementation of large-scale investment and a high degree of product competitiveness on the world markets;
- it is expected that the volume of the investment program of the Corporation for 2016-2025 will amount to about 4.3 trillion rubles;
- The growth of investment and reducing the Federal budget capacity can be compensated for attracting investors to the share capital of the Corporation
holding enterprises and companies;
- it is expected that the first newly manufactured aircraft Te-160 with modern avionics, the last test of the upgraded facilities will be in 2021, and in the
series will go with 2023 preliminary amount of at least 50 boards;
- The development of Russia's equivalent of the English firm pressure set point GE DRUCK - ADTS-405;
- in connection with the expansion of the space industry it is planned to take nischu in the development of space technology - smart parachute units for
landers manned transport spacecraft;
- increase in raw material costs;3
- access to promising markets: the Middle East and Southeast Asia;
- Creating new opportunities trademark in all markets;
- according to forecasts from 2013 to 2021 the world will be delivered 3440 helicopters of the Russian manufacture;
- creation maintenance and repair centers in Brazil; Peru; Egypt within the framework of offset programs;
Annual Report Ural Instrument Engineering Plant, PJSC3
4

COMPLAINTS
Risks
- changes in macro parameters (deterioration of financial and economic performance of the Corporation mind ruble instability, inflation, low growth of
Russian and / or global GDP);
- shortage of competent staff (the inability to implement necessary for the implementation of the transformation strategy of the Corporation);
- The impact on operational efficiency (the inability to finance the investment program because of prolonged and / or insufficient improve operational
efficiency);
- RF budget sequestration (reduction in demand for military and civil products of the Corporation);
- Expected reduction in the state weapons program after 2020;
- Moderating influence on the recovery of the Russian economy have a record-low prices in commodity markets and tight financing conditions;
- In 2015 there was a decline in world production of helicopters by 9% in real terms;
- the general economic downturn and the decline in purchasing power in the car market;
- machine-tool sector is quite badly damaged market fluctuations and changes in the investment environment;
Political:
- decrease in the volume of orders;
- risks associated with possible changes in prices of raw materials and services5
Financial:
- the unstable situation in the country;
- Risks associated with counterparty to meet its contractual obligations;
- Increased competition from Russian producers;
- The rising cost of energy, the price of utilities, components;
- Blocking the transfer of advanced technologies by foreign companies with sectoral trade and economic sanctions against the Russian Federation;
- The actual dependence of the fraction of products from the head of the order executor, reducing the volume of state defense order;
- The risks of loss of competitiveness of products due to technological changes in the Global market;
- The risk of higher interest rates and tightening credit conditions;
- Significant changes in currency exchange rates;
- the absence of long-term contracts; 2
- limited insurance coverage;
- possible failure of the European countries and the United States on purchases of Russian oil and gas, which would entail a deterioration of the financial
situation in the country and reduced demand for manufactured products;
- possible changes and additions to the legislation on taxes and fees related to the increase in tax rates and the introduction new types of taxes;4
- risks of international conflicts;
- unbalanced liquidity risk;
- slowing the pace of modernization;
- high dependence of the company on the financing of the public procurement of the aviation industry;5
- serious dependence on loans;6
Note:
New development strategy 2025
288 product segments and 12 market trends
6 industrial complexes: aviation; radioelectronic; conventional weapons, ammunition and special chemistry; automative; general industrial machinery;
biocluster;
Annual Report Ramensky Instrument Engineering Plant, PLC4
Annual Report Radiopribor, PJSC5
Annual Report JSC Kamov6
5

|DossieR|ROSATOM | Company’s foreign ties
Foreign Directors
Foreign Contract/Agreement/Transaction/Deals7
Egypt and Jordan: Intergovernmental agreements on construction of nuclear power plants;
Bangladesh: general contract for the construction of nuclear power plants;
foreign projects in 41 countries;
Nigeria: Intergovernmental agreement on the construction of the Center for Nuclear Research and Technology;
Memorandum of Understanding between the Corporation and a company of Schneider Electric;
Vietnam: General framework agreement with EVN;
Brazil: Memorandum of Understanding between the Corporation and NUCLEP
Saudi Arabia: signed a framework agreement for collaborations on the use of nuclear energy for peaceful purposes. The agreement will create conditions for the
promotion of Russian nuclear technology to the Middle East markets;
The Republic of Ghana: signed a framework agreement and secured areas of possible cooperation between the two countries;
Foreign Partnership
Imported Processing Equipment and Technology
Global Presence http://rosatom.ru/about/international/
South and South-East Asia, Middle East
Annual Report 2015 Rosatom7
6

________________________________ROSATOM____________________________________
APPETITE
- the corporation plans to increase the share of foreign businesses from 52% in 2015 to 67% in 2030;
- The Corporation expects to achieve productivity growth by 3.5 times in 2030;
- Increase the share of new business/products in the revenue mix from 15% in 2015 to 30% in 2030;
Factors for Continuous Nuclear Industry Development :
- increase in world population in the nearest announcement 50 years;
- stable growth of world GDP at 2-3% per year in the long term;
- the world's electricity consumption growth;
- increase the accumulation of greenhouse gases;
- expected increase in global nuclear power installed capacity to 521 GW by 2030/World 12%;
- Corporation plans to occupy by 2030 about 30% of radiation technologies market;
- Planned share of the Corporation in the Russian market irradiation centers in 2030 - 77%/World 12%;
- Planned share of the Corporation in the market inspection systems and non-destructive testing in Russia in 2030 - 40%/World 4%;
- The presence of corporations in the global environmental market (water treatment, waste destruction) will be 2%;
- India: planned the construction and commissioning of 12 units over the next 20 years (in accordance with the Agreement of 2008);
- 17 potential projects for the start of negotiations / tender until 2030;
- in 2016 will continue the development of the international legal framework, including the signing of new agreements for the construction of Russian design nuclear
power plants and the implementation of other large-scale projects of cooperation with partner countries;
- Will be ready more general agreements, which lays the groundwork for the establishment in the long term practical cooperation; political and legal support of large
international projects by carried divisions of the Corporation in the nuclear fuel cycle, including uranium mining;
- Planned development and launch of the program, selection and promotion of industry experts on regular positions IAEA and OECD NEA;
- Promoting Integrated Corporation offers to provide services in the construction and maintenance of nuclear power plants abroad;
- Patent activity:
- providing a supply of at least 260 overseas applications on foreign markets;
- the development of road maps on the legal protection of strategic areas of technological development, in particular - the development of the project of the
superconductor industry of Radiation Technology;
- commissioning of methodology of formation of portfolios of rights to technology and decision-making on technology transfer, taking into account the protection of the
Corporation's interests in foreign markets;
- created by the introduction of RIA at the level of not less than 60%;
- In the context of economic stability in the presence of a wide variety of market segments with different products allows corporations to quickly adapt to changing
internal and external environment and to ensure its further development;
- by 2030 it is planned to reduce the share of revenue from new business in the segment B2G to the level of 70%, while the share of the increase in revenue in the
segment B2B up to 20% and in the segment B2C up to 10%;
- In the medium-term plans of the Corporation - the development of new markets and build a portfolio of orders for the 10 - year period to approximately 800 billion
rubles for 2018;
- in the direction of "Thermal Energy" plans to develop cooperation with the company NEM Energy in the expansion of the line of heat-recovery boilers and gas turbines,
as well as with key Russian general contractor engaged in projects in the thermal power in foreign markets;
- in the direction of "gas and oil industry" task is to signiﬁcantly increase the share of enterprises division in the market of equipment for gas and oil industry, the
development of internal cooperation;
- in the direction of "special steels" new orders will be executed on the largest Russian and international companies, also the division will participate in the project to
build a multi-purpose research nuclear reactor on fast neutrons;
- in the direction of "Shipbuilding" will continue implementation of the import substitution program, developing a new type of equipment, expanding nomenclature of
the equipment supplied, as well as the increased proportion of orders carried out at the facilities/capacity of the enterprises of division;
- leadership in high capacity nuclear power plants, in particular by offering the most optimal in comparison with competitors solutions at a cost of kW / h on the life cycle
of the object (LCOE);
- stability operations (changes in the schedule of implementation of some projects should not affect the others, which is achieved by building a portfolio of orders and
scope of work in Russia and abroad);
- Development of nuclear Power, billion kW / h in 2016 - 196.7; 2017 - 206.8; 2018 - 212.4;
- In the next three years it is planned to commission two nuclear icebreaker of new generation "Arctic" and “Leader";
- in addition to the strategic task of increasing Russian presence in the Arctic, this project increases Russia's role as a gas exporter and creates conditions for increasing
the share of Russia in the rapidly growing global market for liqueﬁed natural gas;
- We plan to 2019, together with PJSC "Rostelecom" to create support data processing and storage center, which will become the largest in Russia and one of Europe's
largest data centers with capacity of 80 MVA. In the future, possible and access to foreign markets data center services;
- On the involvement of the nuclear fuel cycle aimed plutonium and implemented by Rosatom project for the production of fuel-REMIX. In case of success of the project to
2020 year plutonium is used as the fuel component, including for a particular type of thermal reactors;
7

COMPLAINTS
- attempts to pressure on the partner countries;
- changes in the political situation and economic difficulties in a number of countries;
- increased competition due to the gradual access to the global NPP construction market of the low-cost and large-scale financial capabilities;
- attempts to organize the negative PR companies in the media abroad;
Risks:
- Industrial safety Risk;
- The risk of loss and damage to assets;
- Risk reduction of electricity generation volumes;
- Liquidity Risk;
- increase in Credit risk due to the expectation of growth of non-payment for electricity due to low or negative growth rates of the Russian economy,
continuation of the volatility in the financial market of the Russian Federation;
- Interest rate risk;
- Reputational Risk
- Political risk;
- The risk of market goods and services of the nuclear fuel cycle;
- Foreign currency Risk;
- Electricity Market Risk and power;
- Changes in the regulatory and political climate in the foreign countries, leading to restrict the activities of the corporation and its affiliated organizations;
- avoidance of internal competition for resources between credit institutions;
- risks in the field of personnel management (HR) in partner countries;
Note:
New products for the Russian and international markets (arranged in descending size of the market)
reactors of low and medium power;
electricity storage;
Laser technology;
Additive technologies;
Fast reactors and closed nuclear fuel cycle;
Inspection and diagnostic systems;
Clean water, ecology and desalinated;
System decommissioning of nuclear and radiation hazardous objects;
Superconductors;
Research reactors;
Nuclear medicine;
Super computer; 
8

|DossieR|ROSCOSMOS| Company’s foreign ties 8
Joint Venture Airbus Defense & Space: Energy Satellite Technology, LLC
Foreign Directors
Board of Directors | Foreign Business relations
GCM Global Energy PLC, Directors Калюжный Максим Геннадьевич and Жученко Антон Александрович;9
Safmar Property Ventures (UK) Ltd, London (Property and Asset Management company), General Management Богомазова Ольга Алексеевна;9
China; UAE; Argentina; India; Iran; Nicaragua;
Agreement with LMSSC and The Boing Company; MOU with Company Nano Racks; Agreement with Swiss Space Systems Holding S.A., S3 Switzerland;
Foreign Partnership
Boing; Lockheed Martin; Space Applications Systems;
India, Algeria, Vietnam
Currently, the Corporation is developing a draft Development Strategy for the period 2016-2025 years with the perspective up to 2030;
Other plans reﬂected in the project-program of Russian federal space for the period from 2016 to 2025; 
Information collected on the basis of the content of annual reports of the companies that are part of the Corporation Roscosmos8
Annual Report9
9

________________________________ROSCOSMOS__________________________________
APPETITE
- strengthening aimed at obtaining favorable, long-term and stable public order items on a space ship product markets and artillery weapons, and the
ability to implement these products abroad - in the CIS countries, Europe, Africa, South-East Asia;
- the creation of a multi-purpose laboratory, units and scientific power modules which are integrated into the ISS RS will significantly expand the program
of scientific and applied research and to ensure its energy dependence on the US segment of the station;
- The launches of manned spacecraft and cargo ships "Progress" within the transport and logistics of the ISS, conducting a phased modernization of the
ships data to improve their performance and reduce dependence on imported components elements;
COMPLAINTS
- The impact of political and economic factors on the activities of the company are crucial. Understatement forecast inflation indexes, the use of
economically unjustified producer price indices and indices - deflators leads to bias in the calculation of the initial contract price. Ministry of Defence
authorizes an increase in the price of manufactured products is not more than the values of these indices. The mechanism for determining prices of
public contracts do not take into account the actual inflation figures, the dynamics of changes in the cost of materials, energy and other factors. All this
distorts the ratio of cost to implement and entail reduced profitability produced by products. The duration of action of these factors can not be predicted;
- dependence on macroeconomic factors and by public policies in relation to the military-industrial complex and arms exports;
- Changing priorities of fiscal policy and the state program of armaments for artillery and shipbuilding fields, as well as reducing PTS programs. The lack
of objective information does not allow a reliable estimate of the probability of occurrence of these factors;
- Competition with companies in the military sector: OTO Melara (Italy); http://saabgroup.com (Sweden); http://www.nexter-group.fr (France); http://
www.larsentoubro.com (India); http://www.baesystems.com/en/home;
- Interest rate risk arises due to fluctuations of interest rates, causing a change in in the interest costs, which means a change in the profit (or loss)
compared to the expected (the higher mobility rate, the regularity of its changes, their nature and size, the more interest rate risk);
- The increase in market interest rates may cause a fact that the company has to attract more expensive funds to finance its investment program
(modernization of equipment) and current activities. This will reduce the cost of servicing existing loans, for which rates are fixed;
- Risks related to changes in customs regulations and duties: as a certain part of the purchased equipment is imported or made from parts of a foreign
proceeding, the change in customs regulations and duties may apply for the issuer specific risks associated with the rising costs of purchased products;
- The risk of loss of business reputation: in relation to the production of space products have been concluded for the period until 2018 inclusive;
Industrial risks:
- With the systematic improvement of the Chinese manned spacecraft and the creation of a national Chinese space station the risk of reducing the demand
for manned spacecraft without improving their technical and cost characteristics of the global market is also increasing;
- There is a risk of possible the technological gap Russian spacecraft manufacturer, which is due to under-represented in the market of electronic
components and materials of Russian production with the desired characteristics;
- strong competition between the world's Major manufacturers of spacecraft;
- production on the market for the production and launch of unmanned spacecraft of new global players in countries with high economic growth rates -
China, India, Japan;
- The political instability in a number of developing countries that make up the potential market for the Corporation's products and services;
- he trend towards the integration of the world market of space services into a single open space free partnership for the production and use of space-
based services and technologies;
10

|DossieR|RUSNANO| Company’s foreign ties
24 (21 Foreign) Joint Venture Projects - 27,5% Direct Investment; Fund Rusnano Capital SA: Celtic Pro Bono Bio Plc; PBB Malta Ltd;
Funds with foreign Partners: India (Defense - Technical Cooperation); China; Iran;
Foreign Directors
Foreign Partnership
http://www.b2b-rusnano.ru/ﬁrms/
11

________________________________RUSNANO____________________________________
APPETITE
- in accordance with the strategy of the corporation seeks to become Russia's global technology investor, specializing in investments in the competitiveness
of the Russian and foreign companies implementing promising nanotechnology, and enter by 2020 in the number of internationally recognized leaders
in the field of investment in high-tech sector;
- increase in production and sales of Russian nanotechnology industry portfolio companies and investment funds nanotechnology;
- the creation of new or expansion of existing high-tech industries, research and engineering centers in Russia;
- the creation of effective investment mechanisms that allow to obtain the yield corresponding to the expected market investors such investment risk; and
attract capital to finance new projects by engaging investors into nanotechnology investment funds set up under the terms of, the relevant best practices
of the international private equity industry;
- promote development in the Russian private equity market in the sphere of high technologies, including through improving existing jurisdiction of the
Russian legal forms for equity and venture capital funds (investment partnership);
- the introduction of high technologies in the field of import substitution;
- achievements of the Russian nanotechnology industry sales volume and high-tech materials of the Corporation portfolio companies and new investment
funds of 300 billion rubles in 2015 and 600 billion rubles in 2020 (in current prices);
- Starting about 100 new production facilities, research and engineering centers in 2020;
- maximum of 100% share of private investors - in the period from 2016-2020;
- raising capital to finance new investment projects in the portfolio companies and through the creation of nanotechnology investment funds in the amount
of not less than 150 billion rubles in 2020;
- In addition, of the Corporation investment in projects of production of nanotechnology products and high-tech materials show a significant socio-economic
benefits, including (according to expert estimates) the creation by 2020 of about 45 thousand jobs, providing R & D investment of over 140 billion
rubles; as well as tax deductions portfolio companies to the federal budget in the amount of 650 billion rubles in 2020;
Financial and economic indicators:
- Amount of dividends;
- Return on capital investment (ROIC);
Industry indicators:
- The volume of sales of portfolio companies, corporations and investment funds of the Russian nanotechnology products nano-industry and high-tech
materials, at current market prices (end customer prices) - sales of nano-industry products;
- The total number of start-ups of new production facilities, research centers and engineering centers, created on the territory of Russia as a result of the
implementation of projects with the participation of corporations and nanotechnology investment funds;
- he total amount of capital for the development of new investment projects, attracted by the Corporation and the Management Company in the portfolio
companies and through the creation of nanotechnology investment funds (the amount of capital raised);
COMPLAINTS
- The actual value of the indicator 'volume of capital raised "at the end of 2015 by 3.55 billion rubles (or 18%) lower than the target enter values (20 billion rubles), due
to a significant reduction in activity of investors in funds that focus on investing in high-tech projects in Russia, taking into account the complex geopolitical situation, as
well as the negative dynamics of the Russian economy and the slowdown in global growth;
risks:
- difficulty of attracting foreign investors;
- liquidity Risk;
- reduction of state support;
- increase in requests for financing projects of the existing portfolio;
- Difficulties with the implementation of the planned outputs of the existing portfolio of projects;
- reduction in the flow of potential projects for new funds (weak deal flow);
12

Industry Risk & Scenario Identification| Economic Complaints & Appetite
Aerospace & Defense
COMPLAINTS
- The growing military-political confrontation with NATO impact on the situation in the regional markets of weapons and military equipment. This occurs against the backdrop of the onset
of a period of low energy prices, which adversely affects the economy of several countries, including Russia;
- The risk of losing position in foreign markets due to the reduction of armaments procurement partner countries on military cooperation;
- Diversification of procurement in order to obtain more favorable conditions for military-technical cooperation and the decisions of foreign policy objectives (India);
- Risk reduction of arms sales volumes due to increased competition in the defense production markets. Competitors offer more and more new models of weapons and come in segments
where previously dominated by Russian producers;
- Adverse changes in commodity markets (energy markets);
Legal risks:
- malicious acts of third parties;
- the risk of invalidation of the transaction;
- the risk of improper fulfillment of obligations under the contract;
- the risk of losing market position;
- the constant change of the legal framework. contradictions of the legislation and make it difficult to maintain an ambiguous interpretation of economic activity;
Financial Risks:
- economic and political pressure from the EU and the United States;
- High volatility of the ruble;
- inflation;
- increase in terms of settlements between enterprises involved in cooperation for the implementation of the state defense order, increase in accounts receivable and accounts payable of
the enterprise and a significant increase in the loan portfolio;
Other Risks:
- Given the cyclical development of the economy and markets, the loss of experience, competence, professional traditions accumulated by facility staff will not allow the future use of
economic recovery for the effective and long-term development of the corporation;
Economic risks:
- changes in freight rates and the lease on the international freight market;
- seasonal and regional changes to the supply of and demand tonnage;
- Strong competition from other carriers;
- the emergence of new transport (cargo) technologies, loading, storage and warehousing of goods and caused by this change in the technological requirements in the field of maritime
transport;
- the risk of quantitative and qualitative changes in the composition of the world fleet;
Ecological Risks
- accident with a negative consequences for the environment;
- the impact on the atmosphere (due to emissions) and water in the world ocean (due to the discharge of waste water and various types of garbage);
Legal Risks:
- change the rules of international law and regulation in the field of shipping, customs and tax law, licensing, environmental protection;
- Stricter requirements for vessels of the leading of Classification Societies, as well as international oil and trading companies;
- Arrest of ships Group companies in respect of which may have maritime liens or claims;
- Lack of insurance coverage the Group's vessels;
Operational Risks:
- The negative changes in the political and economic situation in countries and regions where the Group Company operates;
- the negative effect of the restrictive measures imposed against Russia;
- pirate attack;
- the dependence of the Group to attract and retain qualified personnel;
Financial Risks:
- changes in currency exchange rates;
- an increase in interest payments on the existing loan obligations;
- increasing the allowable leverage on the balance sheet;
Other:
The risks of changes in demand and market competition (optimization of pricing and geographical diversification);
Risk associated with the activities of suppliers (limit international cooperation, the supply of high-tech industrial equipment). It takes the localization of production;
Risks associated with the deterioration of production capacities of civil aircraft construction enterprises;
Depreciation of fixed assets is approaching 70%;
a number of raw material suppliers are monopolists;
increase in transport price components;
risks related to human resources;
Negatively may affect the requirement for mandatory state foreign exchange earnings, it is now no such requirement, but in the past the Government of Russia and the Bank of Russia
resorted to such measures;
13

increase the cost of borrowing for the Company may adversely affect the solvency of liquidity;
an indefinite development of the situation in the capital markets (financial strategy includes a gradual escalation of prices for the products, the inflation component is provided at the
conclusion of contracts);
Liquidity risk is reduced with the use of advance payment;
risks associated with the company's activities;
APPETITE
Planned growth in sales volumes, production, profitability;
- The competitive position in the market among the companies: Teekay (Canada); OSG (USA); Torn (Denmark); Minerva Marine (Greece);
- The investment program is focused primarily on the implementation of highly profitable industrial projects in the field of transportation of liquefied gas and maintenance of offshore
hydrocarbon fields;
- development and creation of a new product line, including strategic alliances;
- improving product promotion;
- improving after-sales service;
- expansion of sales geography and entering new markets;
- creation of strategic partnerships with multinational companies to bring the technical level to the level of world standards, to ensure the competitiveness and increasing the share in the
Russian market;
- the purpose of innovation development of the Corporation in the medium term a sustainable balanced development based on the preservation and strengthening of the competitive
position in the Russian market and foreign market due to effective innovation, including the achievement of leadership in the promotion of breakthrough products and demand;
- The development strategy of the corporation [United Aircraft Corporation] provides for the entry in 2025 of the three global aviation industry leaders;
- The largest importers of Russian military aircraft will be China, India, Algeria, Vietnam and Indonesia. Middle East and Latin America are also potential buyers of Russian military aircraft;
- in the period up to 2025 it is planned to implement the project of creation of a new wide-body aircraft on the technology platform on the principles of risk-shared partnership with the
Chinese aviation industry, including ensuring the availability of a large protected market. Creating a risk-shared basis will optimize the required volume of investments to reduce
investment, technological and temporal project risks;
- compensation for losses arising from the launch of the long-term programs of civil aviation;
- reloading the existing production capacities of civil aircraft manufacturing enterprise;
- access to long-term (up to 25 years) on the financing conditions, matching the international practice and depending on the success of the aviation industry projects;
- the formation of the secondary market of Russian aircraft, reducing the cost of the lease payments;
- development of a global service network and after-sales service system;
- Expected results-improving the competitiveness of Russian aircraft at the expense of the Enhance significant fuel efficiency (15-20%), increasing the reliability and aircraft resources,
reduce operating costs, improve aircraft performance and environmental performance, reduce the aircraft life cycle cost by 5% and increase the MTBF of 5-6%, which would eliminate the
existing backlog in relation to the US and EU countries, and solve the problems of import substitution;
Work on emerging technologies:
- icing coating;
- fatigue strength of metal-composite structures;
- monitoring the internal state of metallic and composite structures;
- board intelligent information management systems;
- active Noise reduction techniques airframe and powerplants flying device;
- new energy sources for on-board systems perspective planes;
- superconductivity;
- protection against electromagnetic radiation;
- promising extinguishing media - flame retardants;
- New methods of high-flying autonomous navigation system;
- Structural materials with variable transparency in a fixed range. Frequency-selective management of the clarity;
Source
http://www.zid.ru/info/strategy.php
http://www.scf-group.com/en/investors/annualreport/
http://uralvagonzavod.ru/company/mission/
http://www.ktrv.ru/about/1047/
http://www.uacrussia.ru/upload/iblock/9f7/9f75116a14cbf261765bf4e1cc849335.pdf
14

Industrial Goods & Services
COMPLAINTS
Weaknesses and threats:
- not developed an innovative microprocessor technology;
- obsolete and physically worn out equipment;
- low profitability of sales;
- The lack of investment in modernization of production facilities;
- Falling corporate orders on traditional products;
- outpacing growth in costs;
- to start production of new products and require financial investments and transfer of technology from foreign strategic investor. Available to the enterprise resources (technological,
operational, financial) can only behold the achieved positions in the market;
- impairment losses;
- electricity market has decreased significantly; major customers previously adopted investment program decreased to 30%; mainly postponed the investment projects for 3-4 years on the
commissioning of new facilities, but the depreciation of the equipment still remains at the level of 50-60%; investment program of Rosatom State Corporation of the crisis also reduced by
30%;
- decrease in production in the steel industry;
- RISK: The main problem of the whole system and the electric power industry - a deterioration of the equipment. Of particular concern is the state of the Russian hydropower plants, 20.9%
of the power which has worked for 50 years. Fulfilled the standard period of 53% of the turbines, generators 52.5%, 40% of transformers; On average, the HPP wear exceeds 40%, and for
some - 70%. Most of the equipment, spent their regulatory useful life, on the Volga-Kama cascade hydropower stations on the North Caucasus;
- high wear of equipment in the industry leads to an increase of accidents, creates the risk of man-made disasters, and threatens the stability of energy supply of entire regions of the
country. The accident at the Sayano-Shushenskaya hydroelectric power station in this regard is very revealing, there was not only a result of the lack of control over the condition of the
equipment, but also a range where the technical, organizational and regulatory developments;
- Current situation plays an important role during the intergovernmental negotiations, signing documents on cooperation and interaction, and this is true for any field of activity;
- the risk of tightening competition;
- adjustment of the investment programs of potential customers towards the freezing of projects and the postponement of their implementation;
APPETITE
- the depreciation of the Russian currency is a positive factor, which determines the tightening of consumer demands to localize traffic engineering products and creates the preconditions for
the further development of the industry, the intensification of the process of creating new types of rolling stock the maximum share of Russian components and creates the preconditions
for successful competition in the company's products in international markets;
- Accepted at the state level policy of import substitution has already led to an increase in the share of Russian companies in the procurement of up to 80%. Improving the quality of
equipment in conditions of the ruble fall will further enhance the competitiveness and growth of the company's export products;
- 2021-2030 years will meet domestic needs for power engineering products, winning 15% of the world market of power engineering products;
- in spite of the signs of the world economic crisis, the Russian government is not planning a reduction of national defense and national security spending, will implement a strategy of
development of the Arctic zone of the Russian Federation and national security for the period up to 2020;
- Today, the nuclear industry set targets up to 2020 to modernize and extend the life of reactors used up to 40-50 years, help to reduce the consumption of gas and black oil in the power
industry, to increase the share of nuclear energy in electricity production in Russia and 25% of the total output;
- In order to ensure the necessary level of national security of the country and Russia's status as a leading space power is required:
- all-round development of the domestic space industry capable of design and produce world-class space technology in all traditional and promising areas of space activity;
- the implementation of an independent access to space from its territory;
- Software Space launch vehicles, spacecraft flight control and the spaceport;
- in the strategy of development of space activities in Russia up to 2030 and beyond, the country has set itself the ambitious but achievable goal of long-term reeks of ensuring a high level
of welfare and securing the country's geopolitical role as one of the leaders of determining world politics;
- aggressive advertising strategy aimed at conquering new markets;*
- Efficient operation of the company depends on the fulfillment of strategic objectives:
- intergovernmental agreement on the construction of nuclear power units in China, India, Iran, Egypt;
- General layout of electric power facilities before 2020;
- Russia's energy strategy until 2030;
- Development Strategy Russian metallurgical industry for the period up to 2020;
- The development strategy of the Russian heavy engineering until 2020;
- Technical regulations and government support for investment programs by oil and gas companies increase the depth of oil refining and improving motor fuel quality;
- Restoration projects abroad Corporation Rosatom - NPP Akkuyu (Turkey) and Bushehr NPP (Iran);
- Preservation of the leading position in the domestic market and actively working on foreign markets. On the international market the company's efforts are focused on Latin America,
Middle East, South and South-East Asia and Africa, which have the greatest market potential, both in terms of prospects for the development and implementation of the company’s product
line;
- Partnership with local and regional foreign suppliers for joint participation in projects involving the supply of equipment and services that are not included in the product line of the
company;
Source Annual Reports 2015:
TRANSMASHHOLDING JSC
ELECTROZAVOD JSC
SUDOEXPORT
POWER MACHINES
UNITED HEAVY MACHINERY PLANTS
TYAZHMASH*
ELTEZA JSC
15

Chemicals
COMPLAINTS
- reducing the difference in the cost of natural gas in Russia and Europe ,US;
- the result of vertical integration is the high operational risks, which may adversely affect the cost of a long period in the deterioration of the situation on the market;
- entry of new facilities, including the production of ammonia in the regions with a low cost of raw materials;
- technical risks associated with the mining of potash ores;
- the cost of developing a high-quality distribution network;
- risks of increasing the credit in foreign currency;
- Partial decommissioning of outdated inefficient equipment requiring high cost of raw materials, electricity and maintenance;
Risks in nitrogen segment:
- instability of the economy at the local and regional levels;
- trade restrictions in the target markets;
- increase in gas production in the non-traditional fields entail a change in the demand-supply dynamics and reduce the cost of gas in regions with high production costs;
- technical risks during shaft sinking to a greater depth;
- insufficient development of sales network in Latin America and Asia;
- The limited presence in Eastern Europe;
- Dependence on a number of major partners in terms of access to third party products;
- Climate Risk;
- display of trends for the optimization and consolidation of the industry due to the excess supply on the market;
- the expected increase in demand in the agricultural and industrial sector, is not sufficient to absorb the increase in capacity, which will increase the pressure on prices; in the segment of
phosphate fertilizer capacity is also expected to increase, outpacing the level of demand;
APPETITE
- in 2017/2018 to launch the production of potash; it is expected that the level of cost of production in these enterprises will be one of the lowest in the world;
- The depreciation of the ruble over the past few years significantly increased the competitiveness of the Russian factories for the production of nitrogen fertilizers;
- EuroChem is the only company in the world that has its own source of ammonia, phosphate and potash - to offer a balanced and wide range of products;
- processing of potash ore for the production of compound fertilizer, potassium nitrate and potassium sulphate;
- increase in sales of products in key commodity markets;
- Hold the volume of sales of products via traders at least 15% of total sales;
- construction of new facilities for the production of ammonia near the international ports and the use of relatively cheap raw materials;
- apatite concentrate production capacity on the background of growth of production in the underground mine;
Source Annual Report 2015
EUROCHEM
URALKALI
PHOSAGRO
URALCHEM
ACRON
TOGLIATTIAZOT
16

Oil & Gas
COMPLAINTS
Risk factors:
- poor predictability of the effectiveness of capital investments in exploration projects;
- explosive production;
- volatility in the price of oil and petroleum products on the global and domestic markets;
- tightening environmental requirements;
- physical and moral depreciation of fixed production facilities, tank farms and oil companies;
- complexity of matching the system and obtaining the reconstruction and building permits;
- aggravation of the situation on the market labor force, especially in the Far East of Russia;
- increasing competition;
- changes in legislation in the part of tightening the requirements for product quality, taxation and excise duties;
- reduced profitability and the rejection of new projects with high uncertainty of future capital and operating costs;
- For the reporting period there were 10 operational incidents that resulted in damage to the structure, housing, equipment and vessels demanded the withdrawal of vessels from operation
to eliminate of injury;
- depreciation of non-current assets
external:
- during the period the market value of the asset has decreased in numbers at significantly greater value than could have been expected after the lapse of time or normal use;
- significant changes had negative consequences for the company occurred during the period, or are expected in the near future in the technological, market, economic or legal environment
in which the company operates or in the market, for which the asset is dedicated;
- during the period of increased market interest rates or other market indicators of investment profitability, and these increases are likely to affect the discount rate used in calculating the
asset's value in use and significantly reduce its recoverable amount;
- the carrying value of net assets exceeds its market capitalization;
internal:
- there is evidence of obsolescence or physical damage of an asset;
- significant changes had negative consequences for the company occurred during the period, or are expected in the near future in the degree or method of the current or intended use of
the asset (such as an unoccupied asset, the revision of the useful life of the asset - from indefinite to time-limited);
- the risk of deterioration of the fiscal policy;
- loss of exploration, which did not lead to the discovery of mineral fertilizers for industrial use;
- Reducing the rate of growth of oil consumption in China;
- The reforms involve ensuring third party access to existing gas transportation infrastructure in China and regasification terminals, which could potentially contribute to the emergence of
new importers;
-
APPETITE
- The growth of production drilling at least 30% year on year;
- Plan on putting new wells - about 2,500 units;
- improving drilling efficiency;
- In the long term the most important factors in the growth of oil prices will be the exhaustion of reserves of easy and, as a consequence, the growth of production costs. Thus, almost half of
the recoverable oil reserves account for offshore and Arctic oil fields, oil production from unconventional sources in many countries is also associated with high costs. It will also contribute
to the restoration of oil prices;
- Outside the US, many the world's largest oil and gas companies have announced reduction of investments or full refusal of further participation in oil shale projects, particularly in China,
Australia and Eastern Europe. In Poland and Ukraine the prospects of shale gas, as expected, were significantly overvalued, and to date all international operators were further
participation in projects in these countries;
-
Source Annual Report 2015
ROSNEFT
SURGUTNEFTEGAS
17

ECONOMIC COMPLAIN & APPETITE | BASED ON OFFICIAL DATA*  10
COMPLAINTS
low labor productivity;
high administrative barriers;
the level of corruption;
underdeveloped financial markets;
the low efficiency of public institutions;
ineffective antimonopoly policy;
deficiency of investor confidence in the judicial system;
the low level of economic diversification;
low susceptibility to innovation;
increasing the share of developing countries in the international exchange was their involvement in
transnational value chains;
limiting physical volumes of production of traditional export product range;
limited competitiveness;
the deterioration of the balance of payments;
the slowdown in global economic growth, While maintaining global economic development instability;
a large-scale shift of global production and overall business activity in the Pacific region and South Asia;
Outpacing growth of consumption in Asia (China, India, Indonesia, Malaysia, Vietnam) and the increase in
the size of markets in Latin America, Middle east and Africa region (Brazil, Mexico, Saudi Arabia, UAE,
South Africa, Nigeria, etc.
slowing down the development of the European market;
stabilization of prices for oil and other raw materials determines the volatility of prices in certain periods;
strengthening of protectionist elements in the policy of many countries against the backdrop of global
competition growth;
the transition to the sixth technological order, which creates new opportunities and niche markets,
stimulating structural changes in production and consumption;
strengthening of the race for the possession of the world technological leadership for national companies
long-term competitive advantage;
increasing the efficiency of resource use and an increase in demand for energy-saving technologies, while
strengthening the struggle for raw materials, including those necessary for the establishment and operation
of new high-tech industries;
changes in the institutional framework of the global economy in the direction of strengthening the role of
global regulators and positions of developing countries therein;
changes in the international trading system in connection with the re-formation of traditional blocks and
formation based on the principles of a free trade area of strategic economic partnerships;
Significant influence re-shoring and near-shoring;
Insufficient development of Transport logistics and energy infrastructure;
shortage of qualified engineers and workers;
Low bandwidth of transport routes;
not enough of modern Transport and logistics facilities;
10
Russian Export Strategy 2030
Conception of the long socio-economic development of the Russian Federation until 2020
Foreign Trade Strategy 2020
Strategy of Innovative Development of the Russian Federation until 2020
Conception of the Foreign Policy of the Russian Federation
Government Program “Foreign Economic activity Development”
Presidential Decrees
Support for Access to Foreign Markets and Export Promotion
18

in practice, the person concerned does not understand where, how, in what order and what specific set of
services can be obtained from the state or by the state;
Export support is not a key activity for most of the organizations involved;
Spontaneous interaction, without regard to the changing situation. No format. Result: the exchange of
information is slow and low efficiency of the measures;
complex administrative procedures at seaports;
Transport barriers: inadequate infrastructure of roads and railway / sea and river ports, warehouses and
transshipment facilities; lack of coordination; weak implementation of technologies; poor organization of
access to ports: the Far East, North-West, South;
The effect of negative value added increases as the physical and obsolescence of fixed assets! Depreciation,
worn-out equipment - cost increases - on product price increases;
The lack of working capital; Lack of expertise;
Development Industries: nuclear, aviation, electronics, power engineering, production of energy-efficient
technologies and services with the high need for borrowing technology and capital;
Venture capital investment (financing) - the high cost of goods (special alloys, metal, composite materials,
plastics, rubber tech products);
The cooperation reflects a partial recovery of fragments of old ties within the single economic complex of
the former USSR;
Links to non-CIS countries a narrow range of major industries, representing high-tech industries;
Rigid standards of international chains;
Factors determining the potential to create your own International chains regional co-operation post-Soviet
economic space (free trade) reference point on the Eurasian Economic Union. industrial; mining and
agricultural industries (Indonesia, Brazil, Argentina);
risk of tariff escalation;
Increased global competition, covering not only the traditional markets of goods, capital, technology and
labor, but also the national control system, support for innovation, development of human potential;
the lag in the development of new technologies of the last generation can increase its vulnerability in terms
of increasing geopolitical competition;
the increasing role of human capital;
Russia can not maintain a competitive position in the global economy due to cheap labor and savings in the
development of education and health care: population decline and the level of employment in the economy;
growing competition from European and Asian markets for skilled workers; low quality and a decrease in
the level of access to social services in health and education;
depletion potential of raw materials export model of economic development based on the capacity of the
fuel and the forced export of raw materials, production of goods for domestic consumption due to
additional loading of production capacity in a low exchange rate, the value of the science of production
factors - labor, fuel, electricity;
likely to reduce the competitiveness of energy due to the increased quality requirements of importing
countries desire to expand the (diversification) of supply sources and the reduction of Russia's share in the
energy mix;
***Infrastructure development requires considerable financial costs and may lead to an increase in the level
of costs in the economy;
underdeveloped transport and energy infrastructure and a shortage of skilled engineering labor force;
high levels of social inequality and regional differences;
high risks of doing business, due to the presence of corruption, administrative barriers;
inadequate protection of property rights;
opacity of the system of Land relations;
low corporate Culture;
weak development of forms of self-organization and self-regulation of business and society, the low level of
confidence in conjunction with a low level of efficiency of public administration;
a low level of competition does not create incentives for companies to improve quality and productivity;
underdevelopment of the national innovation system, coordination of education, science and business;
19

lagging development of public health level of the level of the developed countries is much stronger than in
many other key sectors of the economy;
coordinated action by countries in trade and political sphere calls for the design of long-term vision and a
long-term strategy of Russia in this area;
further strengthening the impact of global trends on social and economic development of Russia will take
place against a background of increasing competition, enhancing the role of innovation factors in the
leading countries of the world economic order and adjustment;
The growth of public activity;
Refusal of the total investment space, the legal framework, the financial market;
The growth of "economic nationalism" and disguised protectionism;
Model is maintained "the import of finished goods in exchange for the export of raw materials and energy”;
stable dependence on imports;
capital inflows from abroad did not update the engine of innovation economy and enhance its
competitiveness, 80% of investments are directed at mining, real estate, trade and financial activities;
imbalance and the uneven economic development of different regions of the world, capital flows;
increased competition in global goods and capital markets;
exacerbated by competition for access to resources, providing technological growth, including rare earth
metals;
the high level of oil and gas budget deficit creates high risks for the Russian economy;
in respect of law enforcement and judicial practice should be excluded one-sided assessment of signs of
economic crimes, it should be carried out rejection of the lists you ignore data pointing to the innocence or
lesser degree of responsibility of the person invited;
it is virtually impossible to achieve without the creation of a favorable investment climate, ensuring a high
quality of functioning of the basic institutions: the protection of property rights, high-quality judicial system;
National innovation system is divided into a number of separate, mostly defense scientific - technical
enclaves. At the same time due to low demand from the business and the preservation of the state support
level there is a sharp contraction of the sector of basic and applied science;
The results of the implementation of this policy option is not consistent with the goals and targets of
development of the Russian economy in the long term; this variant dooms Russia to the technological gap
between the leading countries of the West, and in the future and to lose in the competition of innovations in
this newly industrializing countries such as China;
this way (optional) more attractive from both an economic and a political position, at the same time is much
more expensive, as it involves a large-scale public funding of research and development, in particular the
fundamental nature, to promote early commercialization produced promising results, active search and
development of new markets , new niches and segments in existing markets and, finally, exit their support of
Russian companies;
At the same time, the path of technological leadership is far more risky;
uncertainty and risk of innovation based on a fundamentally new solution, immeasurably higher than when
using the known technologies, even if not the most advanced, but more advanced than the currently used
and gives a significant increase in productivity and efficiency;
in today's world, knowledge exchange takes place so fast that even if there is a system to protect the rights
of intellectual property is very high probability that the results of the "breakthrough" innovations will be used
and (or) are more used in other countries;
repression of public opinion the image of the sector of science and education as the poor and undervalued;
the existence of inefficient institutions and research units in all sectors of the economy;
Russian real competitors are not only the leading countries in terms of innovation, but also to developing
countries, as well as the CIS countries;
strengthening the global competition for the factors that determine the competitiveness of innovation
systems, the struggle for highly skilled labor force and the "smart money";
in low efficiency of Russian innovation system, this means rapid "wash-out of the competitive capacity of the
country: training, technology, ideas, capital";
changing of the climate; population aging; food security
20

Russia's transition into the category of countries with a simulation-type innovation system is not capable of
producing new knowledge and achieve the goals and long-term development objectives;
Risks: Loss of scientific technological potential; easing geopolitical position; securing raw nature of the
economy; the slow pace of development;
the absolute dominance of the least advanced types of innovative behavior (borrowing existing
technologies) characterizes the Russian innovation system as a simulation-oriented in nature, rather than the
creation of radical innovations and new technologies;
For Russia, the catching way of development is the massive borrowing of the ordinary for the world market,
but advanced by Russian standards, as a first stage of the technological modernization; minimizing the risks
of innovation;
Modern technology is so complex that it is often not purchase a License and / or equipment - it takes the
whole range of knowledge and experience, and therefore, the effective development of production mainly
has to go through the process of attracting foreign direct investment;
in turn, this requires a very serious effort to improve the investment climate. The high importance in the
economic development of foreign capital and foreign technology, increasing the country's involvement in
global processes, and increases the country's dependence, strengthen external risks;
heavy dependence on imports of equipment and technology, all other things being equal hinders the
development of their own development, that in Russian conditions would mean further deepening of the gap
between domestic science and industry;
there is a risk that can begin to be realized inertia policy option - a reduction of research and development
costs;
a plurality of potential participants in the technological platform and indirect beneficiaries of its
implementation;
the need to discuss the prospects of technological modernization and forms business partnerships, science,
state;
weak structuring of business interests in the development and implementation of new technologies in
training;
the need to harmonize interests and determine the requirements for the most important basic technologies;
multidisciplinarity necessary studies for the development of advanced technologies;
uncertainty of the existing scientific and technological competencies presence of departmental barriers
international scientific organizations;
staff capacity was destroyed in recent decades;
in information and advocacy must be based on very weak informativeness of the public on the functioning of
the country's research and innovation complex;
competition for the "localization" of innovation in the region;
International relations continue to become more complex, their development becomes more and more
difficult to predict;
Continue to reduce the possibility of the historical West to dominate the world economy and politics;
There is the potential dispersal of global power and the development of its displacement to the East,
especially in the Asia-Pacific region. Exit to the forefront of world politics and economy of new players on
the background of the desire of Western countries to maintain their usual positions associated with
increased global competition, which is manifested in the increase of instability in international relations;
Changing the military balance of power between the various states and groups of states. The desire to build
up and Modernize offensive potentials, development and deployment of new weapons blurs the structure of
global security cemented system of treaties and agreements in the field of arms control;
Incomplete recovery processes in terms of the debt crisis in Europe and the ongoing euro zone slipping into
recession presents serious risks for the future;
Growing competition around the strategic allocation of resources;
a hardening of unreasonable restrictions and other discriminatory measures;
rivalry between different values and models of development within the framework of the universal principles
of democracy and market economy;
21

The risks / threats: the danger of the proliferation of weapons of mass destruction and their means of
delivery; International uncontrolled terrorism, uncontrolled traffic of weapons and militants, the
radicalization of public sentiment, provoking religious extremism and ethane - confessional antagonisms,
illegal migration, sea piracy, drug trafficking, corruption, regional and internal conflicts, lack of vital
resources, demographic problems, global poverty, environmental and sanitary - epidemiological challenges,
climate change, threats to information and food security;
Deeply transformed transnational organized crime, the acquirer in a globalizing macroeconomic dimension,
which leads to the emergence of new criminal "centers of power", accumulating considerable resources and
consistently expanding sphere of influence, including through penetration in the power structures of various
countries, the financial and economic institutions, the establishment of links with terrorist and extremist
organizations;
The use of "soft power" and human rights concepts in order to exert political pressure on sovereign states,
interference in internal affairs, destabilization, manipulation of public opinion and awareness, including in
the framework of the financing of humanitarian projects and projects related to the protection of human
rights abroad;
22

APPETITE
moderate growth in GDP and industrial production in all scenarios of economic development of Russia but
forced, the modernization of the complex on energy resources, implementation of energy saving
technologies, development of transport infrastructure, which will provide at least the preservation of
traditional fuel and raw materials export potential;
the formation of a competitive sector of civilian high-tech industries and knowledge-based economy
(including by increasing R & D funding from private sources, as well as technology transfer by Russian
producers) in the case of the moderately optimistic or forced scenarios that will promote consistent
beautification commodity export structure, increase weight high-tech products, high technology, intelligent
services;
Increase in export capacity in the services sector in the conditions of modernization of transport
infrastructure, including serving in the international transit traffic, the development of the infrastructure of the
tourism industry and, more importantly, in terms of formation of the modern sectors and types of services for
the operation of a knowledge economy, health-related, etc.; respectively, to increase the share of services in
total exports of goods and services;
the expansion of domestic investment and consumer demand, growing faster than GDP, which in some cases
raise the priority of import substitution tasks in a competitive environment with the transfer of export plans
and programs at a time separated;
implementation of programs to improve the competitiveness of industry, agriculture, services, as well as the
national entrepreneurial initiative, involving both the formation of favorable conditions for creating and
running a business, and a radical simplification of operating in the export customs and other administrative
procedures that will help to increase the number of exporting companies while diversifying the export
commodity structure;
the formation of an integrated national export support system based on financial, organizational,
marketing, information, trades-political and political-diplomatic support tools for syncretic effect with respect
to the efforts of Russia's position in the promising global markets;
Needed changes in monetary policy, taxation, regulation of tariffs on the products / services of natural
monopolies, development of infrastructure;
Mobilization of the features and benefits of international economic cooperation (bilateral, regional and
multilateral levels, in the framework of international organizations and forums) to promote and protect the
interests of Russian exporters in foreign markets;
Delivering complex task of improving the competitiveness of export products and to ensure competitive
conditions of activity of Russian companies in foreign markets, strengthening competitive aspects of national
export policies;
Improving the conditions of access of Russian goods to foreign markets, the removal of trade barriers and
the prevention of the introduction of new restrictive measures;
Declaration of Partnership for Modernisation;
Russia's entry into the top five world exporters due to non-oil exports, high-tech goods and services;
Formation of the resource-innovative model of Russian export specialization;
Formation of export specialization, dynamic sales structure: processing; finished products obtained thanks to
advanced technology; support of traditional commodities and materials; increase in export revenues, with a
natural "natural-geographic" origin of income from renewable natural resources (agriculture, forestry and
fisheries), transport, tourism, recreational services; products manufactured in the international production
and processing chains; maintaining and expanding production volumes and defense services, nuclear and
aerospace systems; increase ICT sales of civil products, nano and bio-industry, pharmaceuticals and medical
devices, intelligent services and implementation in the form of industrial property technologies;
Modernization of government policy approaches: Export-priority direction of economic policy measures to
support the export of entities; removing barriers and restrictions (qualification, skills, management, logistics,
marketing study, the presence of business contacts and partners, as well as the product (compliance with the
requirements of foreign markets, certification, individualization, intellectual property protection, the
willingness of companies to export)); creating and defining authority responsible for export at the federal
level; integrate the function of financial and non-financial support;
23

Algorithm to achieve a strategy to diversify the country's exports, reduces trade policy, trade integration
risks, volatility of market conditions;
reliance on domestic sources of growth (import substitution);
modernization;
Bet on science;
the development of public-private partnerships;
Institutions participating in the authorized capital of companies producing high-tech products;
The availability of Credit;
emphasis on regulation and protection of intellectual property;
the creation of economic incentives for the development of insider activity;
Network infrastructure for cooperation;
promotion mechanism (participation in international projects);
the use of the Russian capital in off-shores, to strengthen Russian influence in high-tech sectors of the world
economy;
The use and promotion of cluster development complexes, areas of advanced development of special
economic zones, technology parks, industrial parks, agro-parks;
priority access to the government contracts of innovations “Made in Russia”;
reorganization of the standard system by adopting international technology standards, including
environmental; (For the harmonization of international standards is necessary with the Russian desire to
participate in the work on the development of international standards to strengthen Russia's influence in the
international standardization organizations;
Confessions of a Russian system of accreditation (valid membership in the ILAC and IAF);
Control over the import of goods that have analogues of Russian production;
identification of products that do not comply with mandatory requirements, apply a product recall from the
market and the prohibition of implementation;
Maintaining a policy regime "floating exchange rate" - the creation of foreign exchange risk management
system, in order to attract to the hedging of currency risks using financial instruments on the stock market,
which will contribute to the development of the derivatives market in Russia and the stability of the financial
results of the economic, export activities. (Another cooperation of business-State);
Organization of export of goods from the new industrial zones (Belkomur, Northern latitudinal);
railway infrastructure for the development of the Far East and Siberia;
improving tariffs at deterioration of conditions of basic commodities markets;
increasing the capacity of existing railways;
Infrastructure Maritime Transport: the creation of stevedoring facilities, according to the perspective
directions of export and commodity structure (facilities for the transshipment of oil cargo in the Baltic Sea,
the Black Sea, the Far Eastern pools, coal - in the Far East, North, grain cargoes - in the Azov -Black Sea,
the Far East, General cargo - in the Baltic Sea, the Azov - Black Sea, the Far East);
implementation and adaptation of best practices to provide advanced services (business model) in modern
ports;
decline in the share of goods handled in maritime ports of neighbouring countries;
The backbone of high-speed automobile roads of Russia; fixed warranty period for the construction and
reconstruction and repair of roads included in the international transport corridors (priorities EATL (Euro
Asia Transport link));
integrated road network of subjects of the Russian Federation and international backbone network of roads;
Other events logistics: increase storage capacity for consolidation;
increase in transshipment locations from one mode of transport to another;
system for monitoring the movement of goods;
registration of vehicles (measures to minimize the risk of supply delays);
development of express mail;
The projected increase in railways: in the direction of the Black Sea, the Baltic Sea, the Far Eastern and
Western borders, the Northern Basin, South, East, the Caspian Sea; reduce the time of passage of cargo by
sea routes;
24

simplification of import of materials research, diagnosis (including scientific specimens), commercial samples,
prototypes; determination of responsibility for the late delivery of foreign currency earnings through the
fault of a foreign company;
Reducing reliance on intermediaries;
organization of e-services;
For the purpose of stimulating the export risk coverage policy of the national system of insurance risk
assessment should be developed, determining country limits and recommendations in support of exports to
the country-specific directions;
The use of an alternative method of payment - barter, the calculations in national currencies or in currencies
of third countries;
In order to increase non-oil exports to the debtor countries' markets Russia needs to make greater use of
various schemes of debt settlement in exchange for partners commitments on purchases of Russian products
on the granting of certain preferences to Russian suppliers on market access to public procurement system,
by converting debt partners their share in Russian exports to promote projects in their own market;
Improving the conditions of access and activity on foreign markets, eliminating trade and investment barriers
- the elimination of discriminatory restrictions;
the use of WTO instruments;
use of the mechanism of regional free trade agreements;
improving the system of motivation of employees of trade missions, when suspicions and payment, contract
extension or termination of the contract depends on the assessment of the effectiveness of export promotion
activities;
Formation of a favorable external environment for Export development: participation in international
economic forums;
promotion of business image of Russia abroad, work with compatriots; an indirect but significant impact on
the conditions of work and on external markets;
An important area of work should be to create conditions, so-called soft infrastructure for the promotion of
Russian technological culture abroad as a base of high-tech exports;
Provision of educational services for the training of foreign students, the creation of Russian courses in
foreign universities;
Interacting with supervisors;
Promotion of Russian interests in international organizations, training for work in the structure of such
forums, sponsorship of participation;
Measures for improvement of the organized and productive export-readiness: the formation of knowledge
of foreign markets, the existing business opportunities, motivations; retraining; Certification of the foreign
agent, a public acknowledgment of qualification and reliability; use of external specialists, experts,
practitioners, individual consultants, compatriots living abroad; development of a network of accredited
certification centers;
Diversification involves the expansion of the actual participants in the export business;
The volume of loans as an index of export activity;
The basis of the potential of natural and industrial diversification for Russia is territorial and natural resource
factors in the power of its scale and uniqueness contain not yet implemented export opportunities;
The largest project is the modernization of the Trans-Siberian railway, with a branch in the Republic of
Korea, China, Mongolia, from the Asia-Pacific - Western Europe;
3 out of 10 agreed corridors. Number less global and more specific transit directions, which can provide an
appreciable increment of foreign exchange earnings;
Industrial base, the development of traditional specialization does not prevent the growth of other sectors;
Integrating small and medium-sized businesses in the technological chain of foreign investors;
Focus on dialogue within the framework of the OECD, WTO and UNCTAD to build statistical and factual
basis for making informed decisions about the scope and directions of Russia's participation in the chains;
The development of e-commerce;
tax free for foreign tourists;
25

Innovative diversification strategy for Russia, Rear promotes vast territory (land and forests), access to
mineral resources, cheap and qualified labor force! Development of basic industrial infrastructure, high
technology, scientific-technical and intellectual potential;
Unlike Western countries, where innovative development is constantly updating the range of products and
services that incorporate the latest achievements of scientific and technological progress, in Russia it is very
moving up the technological chain;
The three conditions: high mobility and adaptability of the participants and structure to changing internal
and external requirements; the integration of innovation in all sectors; use and dissemination of innovative
strategies as a means of winning and retaining market advantages;
The economy is protected from external shocks international reserve assets of the Russian Federation
The international recognition of Russia indicates success getting the country's status as a market economy
and investment credit rating;
The desire to occupy market niches, increasing economic weight in the world, providing regional leadership
and to reduce the backlog from the developed countries;
The desire for friendly partnership with China, India - the engine of world economic growth, other countries
of Asia and Latin;
America on the background growth of their Influence as a result of the economic crisis;
Improving energy efficiency and increased use of alternative forms of energy, while maintaining the trend to
higher prices for energy;
against the background of the impact of economic factors and the growth of fresh water scarcity, climate
change, Russia sees additional opportunities and benefits, as it has huge reserves of fresh water and
ecologically safe areas;
impact on the imbalances in global trade, movement of capital - the result - changes in exchange rates -
restructuring of the institutions of the world economy (world economic order), the world's financial
architecture;
intensify global migration processes and increase the burden on the social system of the developed
countries;
regionalization as a response to growing tensions between the world's centers of power and the
accumulation of imbalances in the global trading and financial system;
transition to an innovative type of economic development and the formation of a strong financial system;
increase control over raw materials, energy, water and food resources;
strengthen the role of innovation in economic and social development;
increase attention to the developed countries in the next decade will go to the formation of a new
technological basis of economic systems based on the latest achievements in the field of biotechnology,
information technology and nanotechnology, including in health and other sectors;
ensure technological leadership;
formation of a complex high-tech industries and expansion in the world market of high technology products;
increase strategic presence in the markets of high-tech products and intelligent services;
modernization of traditional sectors of the economy, including through the deployment of globally oriented
specialized production;
the need to strengthen the capacity of the fuel and energy complex, modernization and development of the
resource base;***
Achieving the level of economic and social development, the status of the corresponding Russia as the
leading world power XXI century, occupies a leading position in the global economic competition and
reliably ensuring national security and the implementation of constitutional rights of citizens;
in 2015-2020 among the top five in terms of GDP of leading countries;
the formation of a qualitatively new Image of Russia's future by the end of the next decade;
2020 achievement indicators of income and quality of life on the level of developed countries; which means:
the high standards of personal safety, access to education and health services of the required quality,
affordability of housing, cultural goods, ensuring environmental safety;
Reaching higher and secondary vocational education of the population is 60-70%;
the average level of housing 30 square meters per person in 2020, or 100 sqm on average family;
26

reduce the proportion of people living in areas with adverse environmental conditions from 43% to 12% by
2020;
Halve the mortality rate of violent deaths;
To reduce social polarization;
Social mobility of talented representatives of all segments of the population;
Support for vulnerable populations;
Migrant Integration Policy;
The proportion of middle class 50% of the population, a large part of the middle class is formed by people
engaged in the new economy of knowledge, technology and software development of the person;
To remain a world leader in the energy sector, mining and processing of raw materials and to create a
competitive knowledge-based economy and high-tech;
conditions will be formed for the mass emergence of new innovative companies in all sectors of the
economy;
To reduce the scale of regional disparities;
extensive transport network will be created, providing a high level of inter-regional integration and
territorial mobility of the population;
Strengthen leadership in the integration processes in the Eurasian space;
Becoming one of the global centers of world economic relations, including an international financial center;
Maintaining a multi - vector economic relations with the European, Asian, American and African economic
partners;
The developed system of democratic institutions and effective enforcement mechanisms;
a high level of combat capability of the Armed Forces, the relevant leading militarily the country will be
achieved;
To sustain competition as the low-wage economies of China and India, as well as with high-quality and
innovative products developed European countries, the USA and Asia;
Overcoming the negative demographic trends, population stabilization and the creation of conditions for
growth;
creating conditions for a sustainable increase in wages, the appropriate rate of growth of productivity and
the quality of the labor force;
increase depending on the size of pensions from wages, increased pensions, taking into account the
development of the voluntary funded pension savings to a level that ensures a decent life for pensioners;
individual continuing education for all;
establishment of an effective support system targeted persons belonging to the category of the poor;
economic conditions of preservation and multiplication of cultural and spiritual values of the Russian people;
sequential demonopolization of the economy;
improving the predictability of economic policy;
improving the organization's access to long-term financial resources, to ensure the transformation of savings
into capital;
intellectual property Market institutions;
the creation of centers of competence in global manufacturing industries, including high-tech industries and
knowledge-based economy;
improving access of Russian companies to long-term investment sources;
expansion of energy supplies the world's largest consumer, the geographical and product diversification of
energy exports;
the development of the territory of the Russian major components of the international energy infrastructure,
the use of new technologies;
gain a leading position in the development of renewable energy sources and implementation of industrial-
scale clean energy technologies;
realization of Transit potential of Russia;
implementation of the forest wealth of the country, water potential, involving in economic circulation of
undeveloped water resources in Russia;
27

expansion and strengthening of foreign Russia's positions in order to attract capital, technology and skilled
personnel;
the gradual formation of the integrated Eurasian economic area joint development;
building a stable diversified relations with the world's economic centers;
strengthening the role of Russia in solving the global problems of the world and the formation of the world
economic order;
Regional development; overcoming infrastructural and institutional constraints, the creation of equal
opportunities for citizens and the promotion of human potential. Reform and development of federal
relations;
private sector development;
elimination of excessive State regulation of the economy;
gradual reduction of state involvement in the management of the property in the competitive sectors of the
economy through the use of transparent and effective privatization procedures based on the principles of
market valuation, equal access to property and the transparency of public authorities;
concentration of business in the state industries defense capability and national security, the development of
infrastructure;
sequential decline in inflation;
macroeconomic predictability;
to protect the interests of Russian business in the case of violation of rights in a foreign country;
the effectiveness of mechanisms to protect the rights and freedoms of citizens;
High public confidence in the state and public institutions;
broad social consensus on the main issues of development of Russia;
implement the formula of "democracy - people - technology”;
the average pension increased to 2.5-3 subsistence level for 2016-2020;
the creation of an effective system of waste disposal and consumption, improve the quality of drinking
water;
active exploration of hydrocarbon deposits of the Arctic shelf and Eastern Siberia;
turning the Russian ruble into a leading regional reserve currency;
ensure the functioning of efficient economic associations in the Eurasian economic space with the
participation and under the leadership of Russia;
the achievement of the key role of Russia in the development of the world economic order and global
problems within the framework of participation in international cooperation institutions;
gradual transition to effective health care payment methods based on reasonable rates depending on the
quality of its provision and volumes;
expanding its presence on the global space market: commercial launches to 30%;
ensuring the leading position of multilateral international institutions (UN, IMF, WTO, OECD);
Cooperation with Japan and the Republic of Korea should be used for technology;
development of cooperation with regional integration organizations, primarily with the Market of the South
and the Asian community;
creation of conditions for the use of the Northern Sea Route as a transport corridor linking Western Europe
ports to ports in South-East Asia and North America and managed the Russian Federation;
restoration of the environment and reducing the damage caused by the expansion of economic activity;
major projects, significant for the national economy, have a solution only in the format of the global
economy;
Russian companies began to actively enter the world market and in need of a systematic and large-scale
support in foreign markets;
as a "world leader" Russia should become the center and leader of integration in the Eurasian space;
the need to establish as soon as possible the entire spectrum of foreign instruments that have developed
around the world;
attracting potential of other countries and foreign companies;
the use of both possibilities: increase understanding of nation states and strengthening the role of the
bilateral relations;
28

Russian companies access to technology and financial resources and market high-quality investment content
and consumer goods;
strengthening Russia's position in the world market as an exporter of agricultural products;
participate in the formation of the global energy infrastructure and the development of rules for the
functioning of global energy markets;
careless favorable conditions for the establishment of border and inter-regional cooperation with the
participation of the Russian Federation Regions;
strengthening of Trade and economic relations with China, India, Brazil, Mexico, South Africa, Egypt, Saudi
Arabia, South Korea, the third, the ASEAN countries and other countries in the Asia-Pacific, Middle East,
Africa and Latin America;
forming alliances with leading companies in the world, facilitating the transfer of high-tech industries to the
Russia;
assistance in attracting the missing competencies and technologies through a system of international
scientific and technological cooperation;
the most important task - Russia's ability to initiate and integrator of international cooperation projects;
to develop a list of key international projects with Russian participation, including the construction of large-
scale research facilities;
the formation of a single transport space of the CIS;
realization of Russian interests in the development of international rules of transit cargo;
promote the establishment in Russia of finished products to foreign participation and localization of value-
added production with the use of economic customs regimes;
integration into the global transport system;
An integrated aeronautical system of Russia into the global air navigation system based on the Concept of
communication, navigation, surveillance and air traffic management of the International Civil Aviation
Organization;
preserve the sovereign control of energy resources;
Creating a single energy complex of Russia-Europe, including through the exchange of assets;
creation of foreign logistics network realization of Russian hydrocarbons (gas distribution networks,
underground gas storage, buying refineries, filling stations)
shelf delimitation;
alignment of foreign logistics network through the implementation of Russian hydrocarbons on the basis of
cross-ownership of assets, including gas distribution and retail sales of petroleum products networks,
underground gas storage, refining capacity, the gas station network;
Russia's participation in multilateral projects for the extraction and transportation of oil and gas;
strengthening Russia's position in the global markets will serve as building oil and gas pipelines and LNG
plants in the Far East;
ensure the participation of Russia in the development of rules for the functioning of global energy markets;
ensure the promotion of the brand of Russia abroad;
the expansion of trade in rubles with Russia's major trading partners;
actively participate in the reform of multilateral institutions of economic regulation;
The strategic goal of Russia in cooperation with Azerbaijan, Armenia, Moldova, Kyrgyzstan, Tajikistan,
Uzbekistan and Turkmenistan is a deeper level of economic cooperation by expanding cooperative ties and
investment cooperation, mutual trade diversification;
As part of Russia and the European Partnership shall be ensured on the one hand, to attract investment,
technological capacity and management experience of the European countries to create an innovative
economy in Russia, the other - a joint Russian and European participation in the global competition on the
basis of complementarity and the use of competitive advantages in the areas of common interest;
access to European technology and expertise;
removing barriers to the access of Russian goods and services to the European markets;
the implementation of a unique transit potential of both countries through the organization of trans-Arctic
sea and air routes that can become a transport link between the economies of North America and Eurasia;
participate in the construction of the railway network (Saudi Arabia, Iran, UAE, Algeria, Libya);
29

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