The Russian currency crisis isn't far from the headlines in recent history, especially with the incredible interest rates rise from 10.5% to 17%!
Imagine that here? Be no shortage of repossessed homes on the market! Be great for savings though
The crisis has been brought about by economic sanctions over the Ukraine crisis as well as the falling price in crud oil.
But an interesting story on the Beeb is that Apple are suspending sales while the currency plummets in value, more than 20% this week! Apple raised it's prices by 20% last month, but has now decided it can't sell it's products under the current market conditions.
BBC News: Apple halting online sales in Russia
I wonder how many more businesses are having the same problem and imagine being a business based in Russia?
So sanctions combined with oil prices are certainly working as the government pumps billions of rouples into the economy trying to keep it afloat, but it makes you wonder if the Putin administration will manage to hold onto power?
It can't be a nice time to be living or working in Russia at the moment, and crisis like this tends to make the world a little more dangerous (if that's possible), as discontent and desperation take hold.
What does anyone think, will it be a return to the late 1990's when the Russian economy nearly collapsed? Could there be any repercussions for the rest of Europe or global markets?