fbpx

Today in Russian Business – Jan 6th, 2009

The index of Russian service industries has plummeted to a record low, as curbed spending signaled the likelihood of a recession.  Russia’s rouble devaluation is piling pressure on the currencies of its neighbours and putting those without reserves at risk of foreign debt default and further capital flight, says Forbes.  Georgia is actively seeking to resume the export of its wine to the Russian Federation, which has been halted since 2006.  McDonald’s opened forty new restaurants in Russia last year, and is planning to continue its expansion there.