Russia is set to default on its debts 'immin

Russia is set to default on its debts ‘imminently’ as sanctions smash the country’s economy, Fitch Ratings warns

Fitch Ratings on Tuesday again downgraded Russia’s sovereign debt rating

It warned the country could soon default on its debts amid Western sanctions

Russia’s economy has been pummelled since Putin ordered invasion of Ukraine

As of the morning of March 9, $1USD was equal to 133 Russian roubles. Before the invasion on February 24, the value was around 84 roubles to $1USD…

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Second time is the charm? Russia defaulted in 1998.

The Russian financial crisis (also called ruble crisis or the Russian flu) hit Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries.