Companies Suspend Sales, Shipments Due to Falling Value of Russian Ruble - East Idaho News
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Companies Suspend Sales, Shipments Due to Falling Value of Russian Ruble

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Thinkstock 121814 Ruble?  SQUARESPACE CACHEVERSION=1418956408942blinow61/iStock/Thinkstock(MOSCOW) — Following this week’s drop in the value of the ruble, numerous companies are taking action to avoid losing money in sales in Russia.

IKEA Russia said Thursday that it would suspend sales of kitchen furniture and appliances until Saturday. The company cited a large number of orders and the need to update prices throughout the store.

Meanwhile, automakers including Audi, General Motors and Jaguar/Land Rover have suspended shipments to Russia for the same reason.

The ruble dropped violently earlier this week; at one point on Tuesday it had fallen about 20 percent, despite attempts from the Russian central bank to prop it up by raising interest rates.


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