Timeline: The Bolsheviks to Putin: a history of Russian defaults

Published by
Reuters UK

By Jorgelina do Rosario LONDON (Reuters) – In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks’ repudiation of Russia’s external debt: “Gentlemen, you were warned.” He reminded them that dismissal of Tsarist-era debt had been a key manifesto of the failed uprising in 1905. More than a century later, Russia stands on the brink of another default but this time there was no warning. Few expected the Kremlin’s invasion of Ukraine to elicit such a ferocious response from the West, which has all but severed Russia from global financial and payment systems. Thes…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street