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Dollar mortgage holders urge end to financial slavery

When Olga Savelyeva took out a $226,000 mortgage to buy a small apartment on the outskirts of Moscow in 2008, she could never have imagined that the ruble would lose more than half its value in a few short years. But Savelyeva’s $2,090 monthly instalments have skyrocketed in ruble terms due to the Russian currency’s… [Read More…]

Dollar mortgage holders urge Russia to end 'financial slavery'

When Olga Savelyeva took out a $226,000 mortgage to buy a small apartment on the outskirts of Moscow in 2008, she could never have imagined that the ruble would lose more than half its value in a few short years. In a letter to central bank chief Elvira Nabiullina, the group threatened a “powerful social explosion” if assistance isn't provided.