Economic Events and Corporate Reports for Thursday, January 1, 2026: VAT Increase in Russia, EU Ban on New Gas Contracts, Cryptocurrency Regulation in Europe and the UK, Global Market Closures, and Key Indicators for Investors.
The start of the year is marked by substantial changes in tax policy in Russia and significant international events on the energy and financial fronts. While most global markets remain closed due to the New Year holidays, investors should pay attention to several key events: the European Union is implementing a ban on new gas contracts from Russia effective January 1, Sweden is lifting restrictions on uranium mining, the UK and EU are tightening reporting requirements for cryptocurrency exchanges, and new laws regulating digital currencies are being adopted in Central Asia. Additionally, the VAT rate in Russia is increasing to 22%, and preparations are underway to remove the UAE from the blacklist of offshore jurisdictions. These factors will shape the agenda for the early days of 2026.
Macroeconomic Calendar (Moscow Time)
- January 1: Most countries worldwide celebrate New Year. Due to the holiday, no significant macroeconomic releases are scheduled for the day.
Markets During the Holidays: Trading Closures
- Exchanges with No Trading: China, Kazakhstan, the USA, the UK, most EU countries, Australia, New Zealand, Brazil, Canada, Turkey, and others are closed for New Year’s holidays.
- Russian Markets: The Moscow Exchange is closed on January 1, while the St. Petersburg Exchange operates as usual.
Tax Changes in Russia
- From January 1, 2026, the VAT rate in the Russian Federation will increase to 22%. This increase may temporarily raise consumer prices and support inflation at the household spending level.
- The Russian Ministry of Finance plans to remove the UAE from the blacklist of offshore jurisdictions. This decision is expected to simplify financial operations for Russian companies with partners from the UAE and impact the international investment climate.
Energy Sector: EU Ban on Russian Gas
Effective January 1, the European Union’s ban on new contracts for the supply of Russian natural gas comes into effect. This move continues the tightening of sanctions against Russia and may lead to higher gas prices in Europe, particularly ahead of the heating season. For European countries, this stimulates the search for alternative energy sources and accelerates the transition to renewable and LNG supplies.
- The ban does not affect existing contracts but encourages a long-term reduction in Europe’s dependence on Russian gas.
- It is expected that increased demand for LNG and domestic gas in the EU will enhance volatility in energy markets and alter the strategies of major suppliers.
Sweden: Resumption of Uranium Mining
As of January 2026, Sweden officially lifts its ban on uranium mining. This decision opens up opportunities for the development of the country's nuclear sector, which was previously constrained by legislation. New licenses will allow the resumption or initiation of mining operations at uranium deposits, supporting Sweden's plans to diversify its energy sector and strengthen fuel security.
Cryptocurrency: The UK and EU Tighten Reporting Regulations
- United Kingdom: As of January 1, cryptocurrency exchanges are required to provide comprehensive information about users and their transactions to tax authorities. These measures aim to combat money laundering and tax evasion.
- European Union: A directive comes into force requiring crypto platforms to disclose transaction and client data to national tax authorities. The regulation aims to increase transparency and control over the circulation of digital currencies in the EU.
Digital Currencies in Central Asia: Uzbekistan and Turkmenistan
- Uzbekistan: A special legal framework has been introduced to allow the use of stablecoins for the payment of goods and services. This innovation may stimulate cashless transactions and interest in digital assets within the country.
- Turkmenistan: A new law on virtual assets legalizes mining, the operation of cryptocurrency exchanges, and trading platforms. The document recognizes cryptocurrencies as legitimate assets, opening up new prospects for the IT sector and investment attraction.
Other Regions and Indices: S&P 500, Euro Stoxx 50, Nikkei 225, MOEX
- USA (S&P 500): On January 1, American markets are closed for New Year's. Major corporations are not publishing reports, and investors are awaiting the start of full trading activity at the beginning of the week.
- Europe (Euro Stoxx 50): Major European exchanges are not conducting trading against the holiday backdrop. Indices are being influenced by external factors, including currency fluctuations and energy resource prices.
- Asia (Nikkei 225): Japanese and many other Asian markets are closed for the New Year holidays. The global political and economic agenda plays a key role for Asian indices at the beginning of the year.
- Russia (MOEX): The Moscow Exchange is closed on January 1 due to a national holiday. Current events, such as changes in taxes and geopolitics, will affect MOEX and the ruble exchange rate once trading resumes.
Daily Summary: What Investors Should Pay Attention To
- Low Liquidity: During the New Year holidays, trading volumes traditionally decline. In such conditions, even small news can cause sharp price fluctuations. Investors need to be particularly cautious and consider the heightened volatility.
- VAT and Inflation in Russia: The VAT increase to 22% will impact consumer demand and inflation levels. It is essential to monitor the Central Bank of Russia's response regarding monetary policy in light of new tax revenues and price pressures.
- Energy Markets: The EU's ban on Russian gas introduces uncertainty in the energy market. It is important to track the dynamics of natural gas and oil prices, as well as the responses from LNG suppliers.
- Crypto Regulation: The tightening of reporting requirements for cryptocurrency exchanges in the UK and EU may affect liquidity and trust in digital assets. Investors should consider new regulatory risks when dealing with cryptocurrencies.
- Central Asia and Blockchain: The legalization of cryptocurrencies in Uzbekistan and Turkmenistan creates new opportunities for local IT companies and investors. These changes reflect the growing interest in innovative financial instruments in the region.
Open Oil Market congratulates all investors on the upcoming year 2026 and wishes them successful and well-informed investment decisions. Stay tuned for updates and remain aware of key events in global markets and the economy.
