Apple shuts Russia online shore

blue-appleDrastic fluctuations in the value of the Russian rouble has led Apple to shut down its online store in the country.

The reason is pricing for its products.  The rouble has fell in value by over 20 percent this week, and it continues to be in freefall, losing value today.

Apple moved to increase its prices by 20 percent but now feels that the currency is fluctuating so much it has to suspend trading.

Russia is suffering from a combination of sanctions imposed on it because of Ukraine, and because the price of oil is in freefall too.

Russia’s primary export is oil and gas.

Apple did not say when or if it would open its online store in Russia.  Earlier this week the Russian state bank put up interest rates to 17 percent, prompting fears of a recession in the country during 2015.