On what date did the Russian government default during the 1998 Russian financial crisis?

The Russian government defaulted on part of its domestic debt on August 17, 1998, during the 1998 Russian financial crisis.

Russia announced a 90-day moratorium on some foreign debt payments, a restructuring of ruble-denominated domestic debt, and a widening of the ruble's trading band. The measures followed falling oil prices, weak tax collection, political instability, and pressure from investors.

The crisis caused the ruble to lose much of its value and damaged Russian banks and businesses. It also contributed to the collapse of Long-Term Capital Management, a highly leveraged U.S. hedge fund, after markets became unusually volatile.

The event is often called a sovereign default, though the announcement covered several related debt and exchange-rate measures. It was separate from the 1997 Asian crisis, but international investors viewed the two episodes as connected emerging-market shocks.