Russia's big energy and mining companies are expected to be the first to respond to the Kremlin's call to embark on a global shopping spree for new assets to expand the economy and boost Russia's standing overseas.

Dmitry Medvedev, Russia's likely next president, urged Russian businessmen this week to mimic China and invest in foreign companies as well as reducing reliance on imported technology. Roland Nash, chief strategist at Renaissance Capital, said: "The Kremlin has already encouraged the development of national champions. The next stage of their development will be to become international champions."