Russian President Vladimir Putin has enacted legislation granting debt relief to new recruits joining the military to serve in Ukraine, as confirmed by a government website on Saturday.
Reports indicate that the law permits the cancellation of debt arrears up to 10 million roubles (£77,000) for individuals signing contracts with the Defence Ministry to serve in Ukraine for a minimum of one year, starting from 1 December.
To boost military enlistment, Russia has been offering significantly increased financial incentives, often far exceeding the national average income, to those willing to participate in the conflict.
The strategy has enabled a rise in troop numbers in the combat zone without the need for another general mobilisation, which in September 2022 led to widespread emigration from Russia.
Meanwhile, central bank data reveals a sharp rise in consumer borrowing since the Kremlin’s military campaign began in 2022, despite an increase in the central bank’s interest rate to 21% in October.
Read next
16:43
Russia's AI ambitions
Moscow, February 20, 2025 – Russia is intensifying its push to join the global artificial intelligence race, aiming to harness AI for both civilian and military applications and to bolster its economy despite ongoing sanctions and stiff competition from the United States and China.
15:24
Russia has resumed wheat exports to Kazakhstan after lifting a ban that was in place until December 31, 2024.
14:02
EU-RUSSIA
The European Union will seek more gas from countries including the U.S. to replace Russian supplies, and expand renewable energy faster to cut its overall reliance on the fuel, the EU's energy commissioner has said.
12:57
RUSSIA-GOOGLE
n 2024, Russian courts imposed fines on Google LLC four times, totaling 15.1 million rubles ($172,300), according to the press service of the Federal Service for Supervision of Communications, Information Technology, and Mass Media (Roskomnadzor).
12:44
North Korea Sanctions
11 countries pledged to fully enforce UN sanctions on North Korea after the first MSMT meeting. The group, formed after Russia’s veto, aims to track violations and enforcement. Nations reaffirmed their commitment to security while keeping the door open for dialogue.
What is your opinion on this topic?
Leave the first comment