Putin offers debt relief to spur Russian enlistment in Ukraine
Russian leader Vladimir Putin signed a law on Saturday, allowing men fighting in Ukraine and their wives to have outstanding loans forgiven up to the amount of 10 million rubles, reported the Reuters agency. At the current exchange rate, this is roughly equivalent to $97,000 CAD.
The Kremlin has found a new way to encourage citizens to participate in the war in Ukraine. Up to now, Russia has attempted to entice volunteers to join the military by means such as raising soldiers' pay, which is sometimes several times higher than the average salary. Forces have also been supplemented from prisons.
Now it's time for debtors. Reuters reported that Vladimir Putin signed a law on November 23, allowing men fighting in Ukraine and their wives to have their outstanding loans forgiven. This means they can eliminate debts up to 10 million rubles.
How will this work in practice? The agency reports that outstanding loans will be forgiven for men who sign a contract with the Russian Ministry of Defense after December 1 of this year, committing to fight in Ukraine for at least a year. The condition is that court debt collection proceedings are initiated against them by December 1.
Russia's losses in Ukraine
In recent weeks, the war in Ukraine has escalated. Fresh forces have been provided to the Russians by North Korea, which plans to send 10,000 soldiers to the conflict.
The ongoing Russian offensive is being conducted despite significant losses. At the end of October, NATO Secretary General Mark Rutte stated that about 600,000 Russian soldiers have been killed or wounded in the war in Ukraine that has been ongoing since February 2022.
According to a Reuters source, Russia has deployed approximately 59,000 soldiers in the Kursk region since Kyiv's forces entered and advanced quickly. The aggressor currently has about 575,000 soldiers fighting in Ukraine and aims to increase its forces to around 690,000.
