Saturday, May 28, 2016


Russia

Foreign-Denominated Mortgage Holders Protest At Russian Banks

By RFE/RL's Russian Service

Russians with mortgages denominated in a foreign currency are continuing to protest at their banks to demand the loans be restructured following the collapse of Russia's ruble currency.

Dozens of mortgage holders on January 28 gathered at several banks in Moscow and St. Petersburg, repeating the kind of protests staged at Russian banks in recent days.

At some demonstrations, mortgage holders have called for the return to Ukraine of the Russian-annexed region of Crimea -- shouting "We can't afford it."

Russia's ruble currency has been hit hard by falling global oil prices and international sanctions imposed against Russia in response to the Kremlin's annexation of Crimea and Moscow's support for pro-Russian separatists in eastern Ukraine.

That has made the cost of repaying foreign-denominated loans skyrocket.

Russia's currency fell on foreign exchange markets on January 21 to more than 85 rubles for one U.S. dollar before clawing back to about 76 rubles per dollar on January 28.

With reporting by AP
 

Most Popular

Editor's Picks