Russian President Vladimir Putin has extended for one more year the option for participants in special military operations and their families to apply for a credit holiday. This update was reported by TASS.
Under the rules, military personnel and their families may receive credit holidays on mortgages, credit cards, consumer loans, and other loans taken before mobilization or the start of military training.
The Federation Council previously approved a regulation extending the right to apply for credit holidays for special military operation participants and their family members through the end of 2024. Under current Russian law, participants in the special operation and their family members can obtain a credit holiday for all consumer loans and loans, including mortgages and credit cards, provided these were taken before mobilization or participation in the operation.
On December 7, the State Duma Committee on Financial Markets approved extending the credit holidays for participants in the special military operation through the end of 2024, addressing ongoing mobilization and the broader financial needs of those involved. The committee explained that since the operation continued, extending the credit holidays for another year was deemed appropriate. The State Duma was set to review the bill at its meeting on December 12.
Putin had signed a law extending the deadline for citizens, individual entrepreneurs, and small and medium enterprises to apply for credit holidays, aligning relief measures with the ongoing security operation and the financial realities faced by affected groups.