diff --git a/ironic_inspector/rules.py b/ironic_inspector/rules.py
index 90f139703..f9d1d66bd 100644
--- a/ironic_inspector/rules.py
+++ b/ironic_inspector/rules.py
@@ -201,6 +201,7 @@ class IntrospectionRule(object):
         ext_mgr = plugins_base.rule_actions_manager()
         for act in self._actions:
             ext = ext_mgr[act.action].obj
+
             for formatted_param in ext.FORMATTED_PARAMS:
                 value = act.params.get(formatted_param)
                 if not value or not isinstance(value, six.string_types):
@@ -212,15 +213,22 @@ class IntrospectionRule(object):
                 try:
                     act.params[formatted_param] = value.format(data=data)
                 except KeyError as e:
-                    raise utils.Error(_('Invalid formatting variable key '
-                                        'provided: %s') % e,
-                                      node_info=node_info, data=data)
-
-            LOG.debug('Running %(what)s action `%(action)s %(params)s`',
-                      {'action': act.action, 'params': act.params,
-                       'what': method},
-                      node_info=node_info, data=data)
-            getattr(ext, method)(node_info, act.params)
+                    if rollback:
+                        LOG.warning('Invalid formatting variable key provided:'
+                                    ' %(key)s, skipping rollback for action '
+                                    '%(action)s',
+                                    {'key': e, 'action': act.action})
+                        break
+                    else:
+                        raise utils.Error(_('Invalid formatting variable key '
+                                            'provided: %s') % e,
+                                          node_info=node_info, data=data)
+            else:
+                LOG.debug('Running %(what)s action `%(action)s %(params)s`',
+                          {'action': act.action, 'params': act.params,
+                           'what': method},
+                          node_info=node_info, data=data)
+                getattr(ext, method)(node_info, act.params)
 
         LOG.debug('Successfully applied %s',
                   'rollback actions' if rollback else 'actions',
diff --git a/ironic_inspector/test/unit/test_rules.py b/ironic_inspector/test/unit/test_rules.py
index 4164a6c6d..80c2865a6 100644
--- a/ironic_inspector/test/unit/test_rules.py
+++ b/ironic_inspector/test/unit/test_rules.py
@@ -445,6 +445,23 @@ class TestApplyActions(BaseTest):
                          self.act_mock.rollback.call_count)
         self.assertFalse(self.act_mock.apply.called)
 
+    @mock.patch.object(rules.LOG, 'warning', autospec=True)
+    def test_rollback_ignores_formatting_failures(self, mock_log,
+                                                  mock_ext_mgr):
+        self.rule = rules.create(
+            actions_json=[
+                {'action': 'set-attribute',
+                 'path': '/driver_info/ipmi_address',
+                 'value': '{data[foo][bar]}'}],
+            conditions_json=self.conditions_json
+        )
+        mock_ext_mgr.return_value.__getitem__.return_value = self.ext_mock
+
+        self.rule.apply_actions(self.node_info, rollback=True, data=self.data)
+
+        self.assertTrue(mock_log.called)
+        self.assertFalse(self.act_mock.rollback.called)
+
 
 @mock.patch.object(rules, 'get_all', autospec=True)
 class TestApply(BaseTest):
diff --git a/releasenotes/notes/rollback-formatting-7d61c9af2600d42f.yaml b/releasenotes/notes/rollback-formatting-7d61c9af2600d42f.yaml
new file mode 100644
index 000000000..23189527d
--- /dev/null
+++ b/releasenotes/notes/rollback-formatting-7d61c9af2600d42f.yaml
@@ -0,0 +1,7 @@
+---
+fixes:
+  - |
+    Do not fail the whole introspection due to a value formatting error during
+    introspection rules rollback. See `bug 1686942
+    <https://bugs.launchpad.net/ironic-inspector/+bug/1686942>`_ for an example
+    and detailed investigation.