The only significant outcome of this battle will be the label of a homophobic city sticking to St. Petersburg for a long time.
Russia will not introduce a luxury tax, at least in a traditional way. Instead, those running expensive cars will have to pay more.
If rates go down to some decency and common sense, the mortgage lending will surge and Russia’s property market will explode again.
Russia’s current Prime Minister and soon-to-be President Vladimir Putin and as yet President but soon Prime Minister Dmitry Medvedev have switched places, again.