MOSCOW—Last week, tens of thousands of Russians sunning themselves on Italian beaches and Turkish resorts received an unpleasant surprise: their tour companies had gone bust, stranding them and forcing them to pay double for a ticket to get home.
The bankruptcy is the fifth among major Russian tour companies in less than two months — a sign that cracks are appearing in Russia’s economy after a months-long conflict in eastern Ukraine and an escalating stand-off with the West.
It’s not just sanctioned Russian billionaires who are feeling the pinch now — uncertainty over the future has caused the currency to drop, hurting …read more
Source: The Epoch Times
