Repudiation of debt at the Russian Revolution II, the last Emperor of Russia, was forced to sign his abdication and the end of the Russian Imperial Government and of the Romanov dynasty. The new government decided to continue the war, which meant more military spending. To increase budget revenues, a state monopoly was introduced on the sales of sugar, tea, matches, tobacco, and other consumer products. Still, the printing press remained the main source of revenues. This was a period of hyperinflation. The Provisional government was overthrown on October 24, 1917, and the Soviet government was created. The amounts of payments in default were enormous. Russian debt
United States and the Russian Revolution United States and the Russian Revolution American involvement in the Russian Revolution was the key event that pitted the United States and the Soviet Union against each other for the next seventy years. It was the foundation for a face off between the two nations that would emerge as the world's superpowers. The United States responded to the revolution by participating in the Allied intervention in the Russian Civil War with the Allies of World War I in support of the White movement. The United States withheld diplomatic recognition of the Soviet Union until 1933. As President Woodrow Wilson was