Apple has paused the sale of its products in Russia following the extreme fluctuations in the Ruble.
Alan Hely, a spokesman for Apple, said today in an e-mailed statement to Bloomberg-
Our online store in Russia is currently unavailable while we review pricing. We apologize to customers for any inconvenience.
The ruble has declined some 60 percent since January as the country faces headwinds from the falling price of oil—Russia’s main export. The currency lost as much as 19 percent today alone after the Russian central bank decided to rise up its interest rate to 17 percent from 10.5.
Apple will have to re-evaluate the prices for all of their products and the country might see a great hike. Last month, the company increased the price of the iPhone 6 by 25 percent leaving every interested buyer dumbstruck. Currently, the Apple store page in Russia displays “we’ll be back” .