Thousands of Russian Tourists Stranded Abroad, Major Travel Company Goes Under

As many as 27,000 Russian tourists are stranded abroad after a Russian tour firm, Labirint, suspended operations.
A company statement (in Russian) blamed the move on a deterioration in the rouble exchange rate and the “negative political and economic situation”. There are signs that EU-US sanctions on Russia over the Ukraine crisis are hurting the wider economy, including Western investment in Russia. A Russian tycoon says his executive jet is grounded because of US sanctions. Billionaire businessman Gennady Timchenko – close to President Vladimir Putin – told Russia’s Itar-Tass news agency (in Russian) that Gulfstream was no longer servicing his jet and the pilots were not allowed to use its navigation equipment. Read Article