ESMT Berlin

Presentation and discussion

Russian economy and financial sector: beyond crisis but under sanctions. What to expect?

In this public event, experts from the Moscow-based Analytical Credit Rating Agency (ACRA) speak on key economic and financial trends in Russia and their contribution to the nation’s growth and development. Presentations address the impacts of external sanctions on oil and gas production, opportunities and threats from Asian markets, internal demographic shifts, and risks in sectors such as banking, insurance, and leasing.

Analytical Credit Rating Agency (ACRA) is the first rating agency accredited by the Bank of Russia under Federal Law No. 222-FZ whose ratings have been widely used for regulatory purposes since mid-July 2017. ACRA shareholders include 27 Russia’s largest companies and financial institutions each holding a 3.7% share. The Agency operates in compliance with the latest regulatory requirements, and its main purpose is to offer high-quality rating products to the Russian market. The Agency assigns credit ratings on the national credit rating scale to various issuers including financial institutions, corporates, regional and municipal authorities, and structured finance instruments.


Monday, April 9, 2018, 12:30 p.m.
"Russian economy and financial sector: beyond crisis but under sanctions. What to expect?"

Speakers: Kirill Lukashuk, Senior Director and Head of Financial Institutions Ratings Group, ACRA;
Natalia Porokhova, Senior Director and Head of Research and Forecasting Group, ACRA
Moderator: Martha Ihlbrock, Head of Corporate Communications and Marketing, ESMT Berlin


About the speakers

Kirill Lukashuk
Kirill Lukashuk


Kirill is responsible for analytical rating coverage of the financial industry issuers, and namely, credit institutions, insurance and leasing companies, and collective investments market players. Kirill’s main specialization is credit analysis of banks. He has been in the rating business since 2013 working at the Moscow office of Standard&Poor’s and Gazprombank’s Rating Advisory Center (RAC). At S&P, Kirill was responsible for rating coverage of banks in Russia and Kazakhstan focusing on the retail banking segment. At RAC, Kirill was supervising advisory services to financial institutions in the CIS. Prior to joining the credit industry, Kirill practiced credit analysis of financial institutions at the largest Russian banks. Kirill started his career at the banking supervision and regulation department of the Bank of Russia.

Kirill graduated from the Moscow University of Finance and Law majoring in banking and finance.


Natalia Porokhova
Natalia Porokhova


Since 2016, Natalia has led the Research and Forecasting Group at ACRA. ACRA publishes regular macroeconomic and industry-specific forecasts (across 20 sectors) for Russia and the CIS. The forecasts are widely used in the rating activities, thus making the rating process transparent. ACRA forecasts are included in all key world consensuses on the economies of Russia and the CIS. To assess the stability of the Russian financial system, ACRA has developed the Financial Stress Index (ACRA FSI) published daily.

Natalia and the analysts of the Group regularly hold meetings with investors and risk managers from global banks to present their vision of key macroeconomic and sectorial trends, they speak at various business conferences and publish their comments with leading global and Russian mass media.

From 2012-2016, Natalia was a chief expert for energy sector at Gazprombank. In 2014, Natalia was awarded the Best Expert in Energy Industry prize by the RF Ministry of Energy. From 2005-2012, Natalia was the analyst/department head (fuel and energy sector) at the Institute of Natural Monopolies Research. Natalia graduated from Lomonosov Moscow State University in 2006 and defended her Ph.D. thesis in 2009.