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Posts published in July 2006

Financial Crisis and Political Upheaval

In March 1998 Yeltsin dismissed his entire government and replaced Prime Minister Viktor Chernomyrdin with fuel and energy minister Sergei Kiriyenko. On Aug. 28, 1998, amid the Russian stock market’s free fall, the Russian government halted trading of the ruble on international currency markets. This financial crisis led to a long-term economic downturn and political upheaval. Yeltsin then sacked Kiriyenko…

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