Chicago December 31, 2024
Russian President Vladimir Putin recently introduced a new law offering to forgive up to 10 million rubles (about $96,000) in debts for anyone who joins the Russian military after December 1, 2024.
The law applies to individuals with court-ordered debts that were in the process of collection before the deadline. It also extends to the spouses of new recruits. This move aims to boost recruitment for Russia’s military amid ongoing tensions with Ukraine.
The measure is similar to a recent initiative in the United States, where President Biden announced a $4.28 billion student loan forgiveness plan for public workers. This plan, part of a broader student loan forgiveness program, benefits nearly 55,000 workers, with total loan forgiveness reaching nearly $180 billion for 5 million borrowers.
In contrast to the U.S. program, Putin’s debt forgiveness initiative is directly tied to military service. It comes as Russia faces increasing pressure in its war against Ukraine, with reports indicating that North Korea has sent troops to assist Russia’s military efforts.
Additionally, reports suggest that hundreds of Yemeni men were recruited under false pretenses and forced into the Russian military, further highlighting Russia’s aggressive tactics in building its forces.
