Russian markets have rebounded from hefty losses earlier this year when the crisis in Ukraine and Western sanctions sent investors rushing for the exits.
The benchmark Micex stock market index plunged by 21% between January and mid-March but has since recovered those losses, and is now back to where it started the year.
The ruble has also regained some poise, after falling by roughly 11% versus the U.S. dollar over the same period. By Thursday, those losses had been trimmed to 4%.
Experts say investors have come back to Russian assets as worries over Ukraine, and the possibility of tough trade sanctions, have faded.
"The situation in Ukraine has not been solved but the worst case scenario hasn't played out," said Marcus Svedberg, chief economist at East Capital.
Relations between Moscow and the West hit their lowest ebb since the Cold War as Russia took control of Ukraine's Crimea region and pro-Russian separatist militias seized control of parts of eastern Ukraine.
In response, the U.S. and Europe slapped sanctions on some Russian companies and individuals.
Even though fighting continues in east Ukraine and Crimea remains under Russian control, the risks of a dramatic escalation in the conflict -- which would trigger tougher sanctions aimed at sectors of the Russian economy -- appear to have receded.
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