- On 6 April 2024, Russian President Putin passed two laws to support Russian Armed Forces personnel fighting in Ukraine and their families. The first law exempted Russian service personnel fighting in Ukraine from paying interest on consumer loans and credit holidays. This follows on from an October 2022 law which exempted mobilised personnel and other participants of the Russian invasion of Ukraine from accruing penalties for late payments for housing, communal services, loans, and credit card debts.
- The second piece of legislation signed by Putin amended the Russian Labour Code and prohibits employers from dismissing widows of Russian service personnel for one year from the date of the husband's death.
- The Kremlin has likely instituted these laws in hopes of appeasing Russian service personnel, financially incentivising more recruits to join the fight in exchange for state benefits and to limit criticism from the wives of deceased service personnel. Whilst any payment holidays may cost the Russian federal government little in the short term, they are likely to have longer term implications for the Russian economic situation and outlook.
Latest Defence Intelligence update on the situation in Ukraine – 13 April 2024.
— Ministry of Defence 🇬🇧 (@DefenceHQ) April 13, 2024
Find out more about Defence Intelligence's use of language: https://t.co/EwBELWpRTX #StandWithUkraine 🇺🇦 pic.twitter.com/KLDxHPYMAt
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Comments ( 1)
Who would want to run a business in Russia right now?
Putin says you must retool your factory from making the profitable item you used to export to making weapon parts for cost only, you are not making profit, you cannot grow, expand or hire more workers.
The sanctions have killed the market you used to enjoy, now you cannot sell your goods to the higher paying economies, they are blocked from you.
You must provide the authorities with a list of your best employees who are eligible for mobilisation.
If you are a landlord or bank and anyone owes you money you cannot charge late fees or even collect the original debt because the customer died running face first into a Ukrainian machine gun position but his body was never recovered, so while he's missing you cannot take legal action for the money.
If you complain you fall out of a 13th story window.