Russia passes law allowing war participants to write off debts worth $100,000

Russia’s State Duma has passed a law in its second and third readings that will allow overdue loans of up to 10 million rubles ($100,254) to be written off for participants in the war in Ukraine, according to a draft published in the State Duma’s database.

The law applies to mobilized soldiers, conscripts, and military personnel who sign a contract starting December 1, 2024, as well as their spouses. It covers obligations for which a court ruling on debt recovery has taken effect or enforcement proceedings have been initiated. The loans must have been issued before December 1.

The law will come into force on December 1, 2024.