Putin Signs Law: $100,000 Debt Forgiveness for Ukraine War Volunteers Starting Dec 1

Nov 23, 2024, 06:41 PM

Russian President Vladimir Putin has signed a new law that offers debt forgiveness to individuals who volunteer to fight in Ukraine. The legislation, set to take effect on December 1, 2024, allows for the cancellation of up to 10 million rubles (approximately $100,000 USD) in unpaid debts for those who sign contracts with the Ministry of Defense to serve for at least one year. This initiative comes as a response to the ongoing conflict in Ukraine, aiming to incentivize military service amidst economic challenges faced by ordinary citizens. Additionally, the monthly pay for contract soldiers is 10 times what a fireman makes in Siberia, and the signing bonus can be up to 100 times the monthly salary of a Tomsk fireman.