Russia: debt forgiveness for those joining the military

To address the heavy losses sustained in the conflict with Ukraine and encourage new recruits, President Vladimir Putin has signed a law that provides for the cancellation of up to 10 million rubles (around €92,000) in debt for new enlistees.

The measure, which applies only to those signing military contracts from December 1, 2024, excludes those who are already enlisted. To qualify, debt collection proceedings must have been initiated before the specified date.

The law also includes benefits for families, such as extending loan repayment terms and other forms of economic support. These measures aim to strengthen the ranks of the military without resorting to a new mass mobilization, which in the past has led to protests and mass emigration.

Eleonora Scheggi

Journalist Credit Village Newsroom

Credit Village is a leading company in the field of specialized publishing and event organization for the credit management industry and in all issues and aspects related to the NPE market, including ESG , M&A, Real Estate etc. Credit Village has been the first company in Italy to bring the culture of the credit management industry to the press, events and online, creating the largest community in the sector around itself.

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