In 1998, what occurred as a result of the Russian ruble being devalued?

Question

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When the Russian ruble was devalued in 1998, the price of goods imported into Russia increased. This was because the devaluation made imports more expensive since it required more rubles to purchase the same amount of foreign currency. As a result, the cost of living in Russia rose significantly, causing widespread economic disruption and hardship for many citizens.

In 1998, What Occurred as a Result of the Russian