Moscow offers debt forgiveness to new army recruits

Russian President Vladimir Putin has signed a law granting debt forgiveness to new army recruits who enlist to fight in Ukraine. The measure underscores Russia’s needs for military personnel in the nearly 3-year war, even as it fired last week a new intermediate-range ballistic missile.

According to Russian state news agency Interfax, the new legislation allows those signing up for a one-year contract to write off bad debts of up to 10 million rubles ($96,000).

The law applies to debts for which a court order for collection was issued and enforcement proceedings had commenced before December 1, 2024.