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Apple Stops Online Sales in Russia Over Ruble Fluctuations

Apple Inc. (AAPL) has halted online sales in Russia due to “extreme” ruble fluctuations, the company said.

“Our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for the Cupertino, California-based company, said today in an e-mailed statement. “We apologize to customers for any inconvenience.”

Apple has been working to deal with the ruble swings in other ways. Last month, the company increased the price of the iPhone 6 by 25 percent in Russia.

Russia’s currency lost as much as 19 percent today, with a surprise interest-rate increase failing to stem the run on the currency. The ruble sank beyond 80 per dollar, and bonds and stocks also tumbled, with the RTS equity gauge dropping the most since 2008.