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Unpacking Russia's onshore potential

As an emerging market, Russia offers massive growth potential in the structured products arena. Yet the bulk of business is conducted offshore for wealth clients, leaving little trace of an onshore market. While investors and bankers are keen to develop onshore, they must first overcome the legislative void. By Emma Dunkley

Russia boasts the world's most expensive city and is home to many of its richest people, following a decade of intense wealth creation. Although not immune to the global credit crunch, Russia still achieved a real growth rate in GDP of 8.5% for the first quarter of 2008 while other economic markets declined. So why does Russia only form a faint blip on the periphery of the structured products

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