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Russia’s economic crisis causing big trouble for KHL

Vladimir Putin, Alexander Ovechkin,

Russian President Vladimir Putin, left, shakes hands with ice hockey national team forward Alexander Ovechkin while receiving a team jersey at a reception honoring the victory of the ice hockey national team at the Ice Hockey World Championship, in the Kremlin in Moscow, Tuesday, May 27, 2014. Russia won this weekend the world ice hockey title, beating Finland 5-2 in the gold medal match watched by Russian President Vladimir Putin in Minsk, Belarus. At right is ice hockey national team player Nikolai Kulyomin. (AP Photo/Yuri Kadobnov, Pool)


Not sure how many of you have been following what’s happening in Russia, but it’s not good.

From NBC News:

The Russian ruble is in a tailspin and measures to prop it up have come to naught. The currency dropped more than 10 percent for the second day on Tuesday, recording its most severe drop since the 1998 Russian financial crisis. It regained a bit of ground later in the day.

Why do we mention that? Because here’s the hockey-related fallout, from the Globe and Mail’s James Mirtle:

Western sanctions and falling oil prices are the big factors at play in Russia’s latest economic crisis. Those same falling oil prices have also driven down Canada’s currency, which is causing other hockey-related consequences.