Apple stops online sales in Russia as ruble suffers extreme fluctuations

17 Dec 2014

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Apple has ceased selling products online in Russia due to the instability of the ruble after the currency dropped to a record low against the dollar.

Russia is currently gripped in a financial crisis following the a decline in the price of oil – a vitally important component of the country's economy. 

“Due to extreme fluctuations in the value of the ruble, our online store in Russia is currently unavailable while we review pricing. We apologize to customers for any inconvenience,” Apple said in a statement, as reported by CNET.

It is currently unclear when the consumer tech giant will resume online sales in the country.

Russia had boasted the cheapest iPhone 6 upon the product's release earlier this year, prompting tourists to pick up the device while visiting the country. According to Bloomberg, however, the prices were significantly raised in late November.

Apple image via Shutterstock

Dean is a freelance journalist and editor covering media.

editorial@siliconrepublic.com