VANGUARD
Russian President Vladimir Putin on Saturday signed a law that allows those who sign up to fight in Ukraine to write off unpaid debts worth almost $100,000, the government announced.
The new legislation will be a strong motivation for some to join up, experts said, as Russia seeks new ways to recruit fighters for the nearly three-year conflict grinding through troops.
The new legislation will allow those who sign a one-year contract to fight in Ukraine after December 1 to free themselves of existing bad debts. It also covers their spouses.
The law concerns debts where a court order for collection was issued and enforcement proceedings began before December 1, 2024.
The total amount of unpaid debt that can be covered is 10 million rubles, around $96,000 at current rates.
Parliament approved the bill earlier this month.
The legislation will largely concern younger Russians of fighting age, since those in their 30s and younger are most likely to have loans.
Russia has extremely high interest rates for loans and many Russians have almost no cash savings, although the proportion of home owners is relatively high.
“Previously (for those fighting) there was only provision for taking repayment holidays on loans,” Sergei Krivenko of advocacy group Citizen Army Law told Vazhniye Istorii Telegram channel.
The new legislation applies to those who are conscripted for national service and those mobilised for the so-called “special military operation”, Krivenko said.
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