"There has been no change in Inditex's operations in Russia, they continue and will continue as usual," a spokesperson of the General Direction of Communications and Institutional Relations told Sputnik.
"The shipments to the shop have not been suspended," the spokesperson assured, refuting earlier media statements. Earlier on Friday, the Vedomosti newspaper reported that Inditex, founded by Amancio Ortega, the third richest man in the world, temporarily suspended deliveries to Russia until early 2015 due to wide fluctuations in the value of the ruble.
The Inditex spokesperson explained that shipments ordinarily take place twice a week. This week's deliveries were temporarily delayed due to a need to stabilize the exchange rate. Next week's shipments will take place normally, the spokesperson stated, adding that "this is a very specific case which does not affect anything in store operation."
Russia is currently experiencing an economic slowdown and depreciation of the ruble primarily due to reduction of oil prices. According to a number of senior Russian officials, another reason for the economic downturn is the sanctions imposed on Moscow by the West.
