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
Ukraine after the Russian Revolution Ukraine after the Russian Revolution Various factions fought over Ukrainian territory after the collapse of the Russian Empire following the Russian Revolution of 1917 and after the First World War ended in 1918, resulting in the collapse of Austria-Hungary, which had ruled Ukrainian Galicia. The crumbling of the empires had a great effect on the Ukrainian nationalist movement, and in a short period of four years a number of Ukrainian governments sprang up. This period was characterized by optimism and by nation-building, as well as by chaos and civil war. Matters stabilized somewhat in 1921 with the territory of modern-day