With a downward oil price, the risk brought about by Russia's sovereign debt has caused market concern. On August 24th, Standard&Poor’s(S&P), the international credit rating agency, declared it would maintain its rating of Russia. In the view of ANBOUND scholars, the maintenance (rather than lift-up) of Russia’s rating, which is on the verge of junk status, can still be regarded as a warning to Russia. In the context of a continuously depressed oil price and a sluggish economic growth, market’s anticipation of risk on Russia will be further increased.