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Apple Stops Online Sales in Russia Over Ruble Fluctuations

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Will Russia's problems turn into a perfect storm? 

Apple Stops Online Sales in Russia Over Ruble Fluctuations

By Tim Higgins

Excerpt:

Apple Inc. (AAPL) halted online sales of its products in Russia due to “extreme” ruble fluctuations, showing how the currency’s swings are rippling out to international businesses.

The iPhone and iPad maker stopped sales from its Web store as Russia’s currency lost as much as 19 percent today, with a surprise interest-rate increase failing to stem a run on the currency. The ruble briefly sank beyond 80 per dollar, and bonds and stocks also tumbled.

“Our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for the Cupertino, California-based company, wrote in an e-mail today. “We apologize to customers for any inconvenience.”

Full article: Apple Stops Online Sales in Russia Over Ruble Fluctuations – Bloomberg.

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