Instrument
The VanEck Vectors Russia ETF (RSX) is a fund that offers exposure to equities from Russia, which includes publicly-traded companies that are incorporated in Russia or that are incorporated outside of Russia but has at least 50% of their revenues/related assets in Russia.
Source: Vaneck
Analysis
According to the latest official data, in August, the Russian retail turnover slowed down to a three-year low of 0.8% YoY. This is a consequence of the continuing decline in consumer demand in Russia.
The growth rates of nominal and real wages have stabilized, but remain