“In general, we see the replacements are good, at least from the reputational standpoint…Lyashko is very familiar with the government’s pandemic response from his time as chief sanitary officer…Lyashko still needs to prove himself as decisive if and when the highly probable fourth wave of the pandemic emerges. Also, Lyashko will have to better organize the COVID-19 vaccination process…Lyubchenko looks like a good technocrat who is familiar with the way government works (unlike his predecessor who came from business), so he definitely will be a more efficient economy minister.”