The Russian government has attempted to prop the ruble and protect the Russian economy by spending $4 billion according to Reuters.
The Russian economic news comes as the ruble and oil prices continue to slide to lower levels in the wake of the global economic crisis and the bursting of the commodity bubble.
With Russian government dept increasing dramatically over the last few days it is highly likely that the Russian government will default and mirror the default that afflicted the Russian economy in 1998.
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