Support The Moscow Times!

IKEA Unfreezes Sales of Kitchen Appliances in Russia

IKEA, the world's biggest furniture retailer, said on Saturday it had resumed selling kitchen furniture and appliances in Russia after suspending sales on Thursday as it was not able to meet increased demand.

Consumers in Russia have rushed to buy goods, fearing higher prices as the ruble plummeted by over 40 percent year-to-date. The ruble has been hurt by the fall in oil prices and general risk aversion to Russian assets, due to the standoff with the West over the conflict in Ukraine.

"Sales of kitchen furniture and appliances are now resumed in all IKEA Russia stores. Prices on the site are currently being updated, therefore they may differ from prices in stores," IKEA said on its website.

The company said earlier it would start putting up prices in the country due to the recent sharp fall in the ruble.

In the 2014 financial year, IKEA's Russian stores turned over more than 6 billion euros ($7.3 billion).

Apple said on Tuesday that it had taken down its online store in Russia due to extreme fluctuations in the value of the ruble.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more