Russian conscripts allowed to freeze loan repayments with debts cleared if they die

Russian conscripts who participate in the “special operation” in ukraine will be able to freeze their loan repayments and in the event of their death, their debt obligations will be terminated, as reported on Friday, September 23.

A bill declaring that Russian conscripts are allowed to freeze loan repayments as well as debt termination on death has been introduced by senators, the Federation Council press service has said, as quoted by Baza.

According to the initiative, participants of the “special operation in Ukraine” will receive a grace period during which they will be able to reduce or suspend payments on loans altogether.

At the same time, if a serviceman dies or is injured, his loan obligations would be terminated.

According to the senators, a similar rule should be extended to contracts of people who are dependents of a participant of ‘special operations’.

A similar draft law was also submitted to the Duma by Ukrainian MPs. It says that if a citizen was subject to mobilisation and had taken a loan or a mortgage before the mobilisation, then he shall have the right to demand that the creditor amend the contract terms.

This, in particular, will allow him to suspend his debt obligations for the period of conscription into the armed forces.

The news follows reports that Russia’s Defence Ministry has approved the decision not to recruit specialists from selected high-tech IT industries and some finance sector organisations for military service as part of partial mobilisation in the ongoing war with Ukraine, as reported on Friday, September 23.

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