Source: Author: Osipov Georgiy - Nokka Vladimir Potanin, Russia's richest man worth around $16.7 billion, told Bloomberg Television on Monday [May 18, 2015] that Western sanctions against Russia were losing their impact. He said “[n]ow it’s getting clear that the situation is more politically stable or predictable,” and that “[n]obody wants more sanctions. I think we reached a stable level in terms of tensions.” Vladimir Potanin owns a big chunk of and heads Russia’s biggest miner, OAO GMK Norilsk Nickel, which has been pretty much spared from directly being impacted by sanctions because it isn't in the financial or energy sector, which is where most Western sanctions against Russia are targeted. Currently, OAO GMK Norilsk Nickel is worth ~$33 billion USD after rising by 82% over the past 12 months. Norilsk Nickel's local production costs are paid for in rubles while the company is able to sell its production of nickel and palladium in US Dollars. Keep in mind that this is on a relative basis and is coming from someone who is very closely connected with Russian President Vladimir Putin, but it does show that there are some bright spots in Russia's economy, which is currently going through a significant recession that will last for a while depending on where oil and natural gas prices go and how geopolitical events unfold. This also highlights the impact a higher ruble will have on certain parts of the Russian economy, as local production costs will effectively increase if the ruble continues to climb, hurting exporters. While geopolitical tensions remain high, there has been a recent 'lull' in regards to Ukraine, the West, and Russia. We will have to see how things play out. Disclosure: The author, Callum Turcan, does not own any of the companies mentioned above. Always do your own due diligence before investing.