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[Applause] [Music] [Music] so show you've been talking of cybus this morning about the development of Moscow as financial services hub internationally can you give us an overview of what recent changes have been put in place there are a number of changes first of all of course we have a detailed road map developed together with the federal government of the Russian Federation this is actually a very big list of problems what we are very well aware of and what we intend to solve we cannot solve all those problems just at once it will take time but we know those problems they are identified and we know the road where to go how to solve them problems are related mostly to to the following areas first of all this is regulation of course we need thorough reform of legislation regulating financial services a very close related field of legislation this is taxation financial services business is a very complicated web of transactions and it's not really clear still in Russia h

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