Putin signs law to forgive debts of those who fought in Ukraine

Russian President Vladimir Putin on November 23 signed a law allowing those who registered to fight in Ukraine to have their debts of up to 10 million rubles (more than 2.4 billion VND) forgiven.

The Russian government announced the signing of the new law by President Putin, according to AFP today, November 24. The new law will allow those who sign a one-year contract to fight in Ukraine after December 1, 2024 to have their existing bad debts written off. The law also applies to the spouses of those who sign up to fight.

Russian President Vladimir Putin at the Kremlin on November 6

The new law concerns debts for which a court has issued a debt collection order and enforcement proceedings commenced before December 1, 2024. The total amount of unpaid debt that can be paid is 10 million rubles.

The Russian parliament approved the bill earlier this month. The new law mainly affects young Russians of fighting age, as those aged 30 and under are more likely to have loans. Russia has extremely high interest rates on loans and many Russians have little savings, despite relatively high rates of home ownership, according to AFP.

Conscripts cannot be sent to the front lines but can choose to sign a contract to join the professional army and be sent to fight in Ukraine.

AFP cited a report covering the first two quarters of this year published by Russia's central bank last month saying that more than 13 million Russians had three or more loans. This figure is up 20% compared to the same period last year.

The average amount owed by those with three or more loans is 1.4 million rubles. Many people start with a bank loan and then apply for additional loans from microfinance institutions.

Russians serving on the front lines were paid much higher than the national average.

Ukraine also has laws allowing combatants to enjoy preferential terms for loans and in some cases debt forgiveness, according to AFP.

Source: https://thanhnien.vn/ong-putin-ky-luat-xoa-no-cho-nguoi-tham-chien-o-ukraine-185241124063342687.htm