Russia's Oil and Gas Revenues Hit 18-Month High Amid Escalating Military Production and Economic Shifts, Russian Retail Investors Boost Benchmark Index, China's Exports Surge

Russia's oil and gas revenues have reached an 18-month high, while the production of weapons and military equipment in Russia has increased significantly. Russian retail investors have boosted Moscow's benchmark index to pre-invasion levels, attracting numerous companies to sell shares on the exchange. Russia has added Rbs3.4tn to its budget this year, exacerbating inflationary risks, and highlighting the escalating cost of the war in Ukraine. China's exports to Russia and Central Asia have surged at an annual pace of 40% since Russia invaded Ukraine. Ukraine's defense spending is set to increase to 15.2% of GDP next year, signaling a significant shift in budget allocation for defense.