Russia's Caspian naval plans
There is a lot of speculation surrounding Russia's future plans for its Black Sea Fleet, primarily because of its role in the 2008 war with Georgia. Comparatively little has been written about the Caspian Flotilla, but Dmitry Gorenburg helps rectify that. There isn't too much action, it appears:
[T]he first ship of the Gepard class [is] currently serving in the Caspian Flotilla. One more ship of this class is under construction and will likely enter the Caspian Flotilla next year. There are vague plans for further construction of these ships, though priority is being given to the export market...
Buyan class corvettes are smaller (500 tons) and designed to function on rivers or in shallow seas. They are primarily intended for the Caspian Flotilla and are armed with Igla surface-to-air missiles. The first ship of this class has been in the navy since 2006; two more are currently under construction, though the completion date is uncertain.
Nevertheless, even those modest plans appear likely to allow Russia to remain the dominant military power in the Caspian.
Joshua Kucera, a senior correspondent, is Eurasianet's former Turkey/Caucasus editor and has written for the site since 2007.