The RTS Index was suspended during the 1998 Russian financial crisis.
Russia's crisis intensified in August 1998 when the government devalued the ruble, defaulted on domestic debt, and declared a temporary moratorium on some foreign debt payments. The shock followed years of weak tax collection, falling commodity revenues, and heavy reliance on short-term government borrowing.
Trading on the Russian Trading System, or RTS, was suspended during the turmoil as prices plunged and market operations became disorderly. The crisis damaged banks and businesses and contributed to a sharp decline in living standards.
The RTS Index should not be confused with the later MICEX Russia Index, which was associated with the Moscow Interbank Currency Exchange. Russia's exchanges were later consolidated under the Moscow Exchange, created in 2011.