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
Annexation of Crimea by the Russian Federation that more than 90% of Russians supported unification with the Crimean Republic. On 4 March, at press conference in Novo-Ogaryovo President Putin expressed his view on the situation that if a revolution took place in Ukraine, it is a new country with which Russia did not conclude any treaties. He brought up an analogy with events of 1917 in Russia, when as a result of the revolution the Russian Empire fell apart and a new state was created. However, he stated Ukraine would still have to honour its debts. Russian politicians have speculated that there are already 143,000 Ukrainian refugees