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Today in Russian Business – Dec 18th, 2008

The ruble has fallen to an all-time low against the euro.  There have been seven devaluations of the ruble since early November, with analysts predicting more frequent and dramatic drops.  The number of overdue market payments has increased by over six times this year, creating banking nightmares of devalued property and lack of funds.  Read an in-depth report on the Kremlin’s regaining control of Norilsk Nickel and the wider implications of state bailouts.  A German businessman alleges that the Kremlin owes him up to $10 million for an alleged ‘cunning‘ plot regarding rent payments on an apartment block in Cologne.  Truck maker KamAZ has announced that it will halt assembly lines for a month on the back of ‘no demand‘.