Back in the USSR: Russia to set price caps on 'socially important' foods

With the Russian economy reeling from the collapse of the ruble and falling oil prices, it looks like the government of President Vladimir Putin is resorting to some moves from the old politburo playbook. The Russian news website Meduza reports that the country's largest grocery chains, under pressure from the government, have "agreed to freeze prices on so-called 'socially important' foods for the next two months."

Those foods reportedly include an array of meats, dairy products, sugar, salt, and other staples.

If the chains fail to voluntarily freeze prices, there is a risk that they could be accused by government authorities of price-gouging, according to Meduza.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up