Which 1997–1998 Russian financial event followed Russia's August 17 default and devaluation?

The financial turmoil following Russia’s August 17, 1998, default and ruble devaluation is called the Russian financial crisis.

Russia announced that it would restructure domestic ruble-denominated debt, widen the ruble’s trading band, and impose a temporary moratorium on some foreign debt payments. The measures followed years of fiscal weakness, falling tax revenues, political uncertainty, and pressure from the Asian financial crisis. Investors rapidly sold Russian assets, and the ruble lost much of its value.

The crisis damaged banks, companies, and households and contributed to a sharp economic contraction. It also had international consequences because hedge funds and banks held Russian positions and because many investors reduced risk in emerging markets. Long-Term Capital Management, a highly leveraged U.S. hedge fund, suffered severe losses soon afterward, although its difficulties had multiple causes. The crisis was distinct from the 1997 Asian crisis and from the 1998 global market crisis named in the existing question.