Apple closes Russian online store due to ruble fluctuations

Apple has stopped selling iPads, iPhones and other products on its Russian website due to the extreme fluctuations in the ruble, reports Bloomberg. Since the start of the week, the Russian currency has lost up to 20 percent of its value, kicking off a deluge of orders on imported electronics and other luxury goods before prices rise even further in the country.

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

Visitors to Russia's online storefront are greeted with Apple's standard "We'll be back" message. The online website is Apple's largest presence in the country as there are no official Apple retail stores. Besides its online store, Apple also sells its products through local authorized resellers.

Russia is not a major market for its products with company selling 1.57 million iPhones in Russia in 2013. Though Apple was well received under former president Russian President Dmitry Medvedev, the relationship between the Cupertino company and the country under Vladimir Putin has been rocky. Citing security concerns, the Russian government dropped support for the iPad and switched to Samsung's devices for their official business. Officials also requested Apple source code following concerns that the iPhone and other Apple devices are being used to steal state secrets.