- When the ruble falls, there is a bloodbath for everyone – Dagbladet.no

(Dagbladet): Chief of cooperation between car manufacturers Renault from France and Japanese Nissan CEO Carlos Ghosn, looks very pessimistic that ruble frays in Russia.

– automotive factories in Russia face a “bloodbath” because of ruble fall , he says, according to BBC.

Rubel crisis has lasted for several months, but has experienced its greatest defeat DENJA last week. The companies have now stopped taking orders for several new models and increased prices of others. The same has to other car makers.

Stops orders

While pessimism is Ghosn hopeful that the situation will stabilize and hopefully improve his business.

– When the ruble falls are a bloodbath for everyone. There is red ink, people lose money, all automakers are losing money, he said.

Renault and Nissan are major players in the Russian car market. They sell tons of cars and make the Russian marque Avtovac, those who make Lada. After a commercial partnership for 11 years was Renault and Nissa further good friends in 2010 when they partnered with Daimler to help each other through the financial crisis.

Can go beyond the UK

General Motors, Audi and Jaguar Land Rover also introduced orders halt to Russian retailers this week.

Bilsalgkrise Russia may also affect carmakers in Britain. According Nissan exported ten percent of the cars produced in Sunderland to the Russian region, according to the BBC.

Among the extremely popular Nissan Qashqai made in England.

New sanksjober

While the ruble already bleeding, America will introduce additional sanctions against Russia. President Barack Obama announced yesterday that he will impose trade sanctions against Crime as a result of annexation of the peninsula. It applies export of goods, technology or services to the Ukrainian peninsula, illuminated Obama Friday NTB.

– The intention is to make it clear to US companies in the region that the United States will not accept Russia’s occupation and attempts to annexing the Crimea, he said in a statement.

The EU decided Thursday to expand investment ban on the Crimean peninsula and the city of Sevastopol. The 28 member countries agreed that EU citizens and companies should not be able investments in the Crimea and also limits the trade.

Also Canada introduced these sanctions Friday.

After the Russian annexation of the Crimean peninsula in March introduced the West sanctions that have created difficulties for the Russian economy, and many Western investors have pulled out of the perceived as a very difficult investment climate. The hardest blow for Russian economy, however, has been the fall in oil prices.