Putin Ally Proposes Early Election to Get Through Russia's Storm

A former finance minister proposed on Thursday bringing forward the next presidential election to give his ally, Vladimir Putin, a stronger mandate to reform the economy and guide Russia through a financial "storm". Russia is sliding into recession, with economic sanctions imposed by the West over Moscow's role in the Ukraine conflict taking a toll and lower global oil prices depriving the country of its main source of revenue. Government officials assured foreign and domestic investors at the St Petersburg International Economic Forum, Russia's biggest annual business event, that the economy was in better shape than seemed likely a few months ago.