The world in general – and Russia in particular – has entered a phase of persistent turbulence, marked by sanctions and currency wars. For investors, this is no longer a temporary shock – business and capital now operate in a world of permanent volatility, where supply chains fracture, global alliances shift, and conflict is a constant backdrop. This environment isn’t just a risk to be managed; it is the new frontier for opportunity, demanding a proactive strategy to build resilience and discover growth.
What has changed by mid-2025?
By mid-2025, it became evident that conventional investment models no longer function. Sanctions continue to restrict brokers’ access to international infrastructure: accounts, offshore structures, and certain instruments no longer operate as before or are entirely inaccessible. The ruble has remained within the range of 77–80 per US dollar for several months, but this is not stability; rather, it reflects reduced liquidity and a repricing of risk, as emphasized by Sber Private Banking.
The Russian stock market exhibits high volatility: the MOEX index has declined by almost 4%, and the Sharpe ratio remains negative (–0.43), indicating low risk-adjusted returns.
What does this mean in reality?
“Investors can no longer passively follow old familiar patterns,” says Kairat Bermukanov, founder of the IBF TRUST hedge fund. “If previously most investors adhered to the ‘buy and hold’ principle and refrained from complicating their lives with market analysis, trend research, or the selection of alternative instruments, the situation has now changed. But it is important to remember that, when some opportunities close, others open, and it is crucial to see them.”
Which assets are trending today?
New times create new leaders, and in the financial markets, the domestic real sector is undoubtedly becoming one.
The state policy of import substitution, combined with subsidies, tax incentives, and public financing, has supported the development of domestic enterprises and stimulated demand for their products and services. Where there is growth, profitability follows.
Today, investors are directing their attention toward the agro-industrial sector, logistics, IT, and industry. At the same time, new financial centers are emerging, with a noticeable rise in transactions in the UAE, Kazakhstan, and Eastern Europe. The number of family offices is expanding, while capital is steadily shifting from Western markets to more friendly regions. For investors, these trends warrant close consideration.
Naturally, some “evergreen” instruments remain relevant on the market. Gold, for instance, has seen a renewed surge of interest among investors, with prices in June rising above $3,350 per ounce.
So, what steps should investors take now?
“Diversify risks,” advises financier and investor Alisa Strelnikova. “But do so with an eye on the current environment. Consider gold ETFs, bonds denominated in the currencies of friendly countries, stakes in venture funds within the EAEU, or, for example, domestic real estate.”
Liquidity, security and stability
In today’s uncertain market environment, most investors are opting for instruments that can be exited quickly without incurring major losses. Experts support this cautious approach, recommending that 20-30% of an investment portfolio be allocated to such assets. It is also essential to remain mindful of ongoing sanctions, with geopolitical and legal factors now playing a significant role in shaping investor behavior. Therefore, investment choices should be resilient to sanctions-related risks, while investors themselves must follow global political developments to protect their capital when necessary.
Periods of geopolitical instability are challenging for everyone; they act as sort of stress tests for investment strategy that one chooses. Yet, these tough times can also present unique opportunities: often, it is under pressure that the most effective decisions are made. In the current situation of uncertainty, the key for investors is to remain adaptable in their strategies and open-minded in their thinking. In 2025, being a successful investor requires more than just financial acumen; one must also think and act like an analyst, a strategist, and a keen observer.
By Alena Narinyani