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Apple shuts down sales in Russia

Apple shuts down sales in Russia
Photo courtesy of Shutterstock

I'm loving the huge drop in gas prices, and you probably are, too. It's especially helpful this time of year with Christmas travel about to kick into full swing. If you're traveling for the holiday, here are five travel secrets you need to know.

One of the reasons for lower gas prices is the falling cost of oil - the lowest in five years. Of course, this news isn't good for everyone around the world. Russia, in particular, is being hit hard.

Russia's economy is heavily dependent on its energy exports and so its currency, the ruble, is dropping in value. Combine that with U.S. and European sanctions over Russia's recent actions in Ukraine, and the ruble is at an all-time low - it dropped 20% of its value just this week.

Last month, Apple had to increase the price of its products in Russia by 20% to keep the prices even with the rest of Europe. This week, Apple suspended all online sales in Russia until things stabilize. Otherwise, shoppers from other parts of the world could pick up Apple products at huge discounts.

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Source: BBC
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