TODAY: Russia bound for recession next year; GDP forecast to shrink; Central Bank supporting tumbling ruble. Kalashnikov cashing in on peace; Corruption worsening in Russia says index; Gazprom exports dwindling; tightening grip on Internet; musicians refusing to toe Kremlin line.

In an admission which has sent the ruble spiralling further downwards, Russia’s Finance Ministry has acknowledged that Western sanctions and low oil prices will push the country into recession next year.  GDP is predicted to contract by 0.8%, as opposed to growing 1.2% as initially forecast.  The Central Bank admitted that it spent $700 million to support the ruble two days ago as the currency tumbled the most in sixteen years.  The Finance Ministry might spend as much as $9.3 billion from the budget’s Reserve Fund next year if pessimistic predictions become reality.  Despite the growing sense of panic, an analyst quoted in Bloomberg believes that sanctions will not break Russia’s resolve, of which World War Two’s Siege of Leningrad is testament.  A deputy from United Russia sees an anti-Russian plot in the Central Bank behind the ruble’s losses; accusations which the Prosecutor General’s Office are examining.  Iconic weapons manufacturer Kalashnikov, which has lost its American market due to sanctions, has unveiled its re-branding which involves a ‘peaceful’ message.