Investor Presentaiton

Stimulating the Impact for Europe Scenario simulation: ● Assuming that a closer economic relations implies a reduction in China-Russia bilateral exporting prices of 20%. Interacting the effect of the substitution in Russia and the effect of complementarity in China, we show that there will be a reduction of 4% of EU exports to Russia and China. Three issues concerning the simulation: ceteris paribus assumption ● the possible deterioration of EU-Russia relations • slowdown of China and Russia economy

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