The breaking news out of Russia at this hour is that Apple has effectively halted online product sales in Russia.

Apple sources tell the media that “extreme” ruble fluctuations are behind the decision to suspend sales for the time being. Apple had no choice but to stop sales in its Russian web store today as Russia’s currency rumbled nearly 20%.

The ruble briefly sank beyond 80 per dollar, and bonds and stocks also tumbled, with the RTS equity gauge dropping the most since 2008.

“Our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for Apple, tells Bloomberg. “We apologize to customers for any inconvenience.”

Apple isn't the only international business getting nervous. According to a slew of published reports at this hour, global companies and investors are closely watching the situation and weighing potential options to mitigate their own prospective losses in light of what's happening.

Source: Bloomberg