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Russia Defaults, Double Digit Inflation

Since March’s invasion of Ukraine, Russia has seen its economy rapidly spiral out of control and has now defaulted on Foreign Debt for the first time since 1918.

In the last 100 years Russia has paid its debts, but now that they have become ostracized in the global banking system due to the invasion of Ukraine.

Accounts have been frozen, ways to pay and receive global payments have been shut down and now inflation is up over double digits in Russia.

Countries have seized assets, and despite hardships, Russia keeps pounding Ukraine.

The Ruble has made a strong recovery since the huge dip at the start of the invasion, but still defaulted.

Despite the rise of the Ruble, Russia is facing many challenges and things could get worse as they continue their mission to take Ukraine.



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