Tag: ruble

Manta Putin (Mikhail Klementyev / AFP / Getty)

Stratfor: Russia Economy Hits Perfect Storm

The Russian economy started stagnating in 2013, but the nation was never actually able to recover from the 2008-2009 recession, according to Stratfor Global Intelligence. The combination of the 2014 sanctions over the Ukraine and collapsing oil prices is a perfect economic storm that is grinding Russia to a halt.

Apple Halts Online Sales in Russia as Ruble Plummets

After a series of “extreme” fluctuations in Russia’s currency–the ruble–California-based Apple Inc. has made the decision to halt the online sales of its products there, the iPhone 6 included, as the company reviews a strategy to deal with Russia’s economic crisis.

Expert: Russia in ‘Full-Fledged Economic Crisis’

Former Russian finance minister Alexei Kudrin said on Monday that the Russian economy has entered a vicious downward spiral as Russia’s energy-centric economy continues to suffer from falling oil prices, Western economic sanctions, and a severely weakened ruble. “Today, I