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
History of the United Kingdom during the First World War 1919 Order in Council under the provisions of the Titles Deprivation Act 1917. Developments in Russia posed another set of issues for the monarchy. Tsar Nicholas II of Russia was King George's first cousin and the two monarchs looked very much alike. When Nicholas was overthrown in the Russian Revolution of 1917, the liberal Russian Government asked that the tsar and his family be given asylum in Britain. The cabinet agreed but the king was worried that public opinion was hostile and said no. It is likely the tsar would have refused to leave Russia in any case. He remained