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Pro-Russian authorities of annexed Crimea to write off Ukrainian debts of locals
12:53, 29 November 2017
Pro-Russian authorities of annexed Crimea to write off Ukrainian debts of locals

The debt in the full extent should be written off if it does not surpass 85.535 dollars as at March 18, 2014

12:53, 29 November 2017

112 Agency

The State Council of Crimea controlled by Russian authorities approved the law in the second and final hearing that provides the order of the writing off of the debts taken at the Ukrainian banks by the citizens of the peninsula. The banks of Ukraine stopped the work right after the annexation in 2014 as Interfax reported.

‘The debt in the full extent should be written off if it does not surpass 85.535 dollars as at March 18, 2014’, Vladimir Konstantinov, the Speaker announced at the session of the so-called parliament of Crimea.

Related: Russian Finance Ministry is ready to sell Yanukovych debt in 3 billion dollars to another country

The categories of people that have a right for the debt restructuring from the movement when the law comes into force are stated in this law. There are the borrowers who are the pensioners that do not work; have one or more underage children or bring them up without the second parent; the tutors of one or more underage children that have their own underage children; combat veterans.

The regional law was approved in the first hearing in September.

Related: General government debt of Ukraine increased up to 77.03 billion dollars in September

Vladimir Putin, the President of Russia signed the law on the writing off the debts taken at the Ukrainian banks by the citizens of Crimea. Particularly, the law provides the loan debtor the right to appeal to the Protection of Depositor Fund founded by the Agency on insurance endowment to not cooperate with the debt collectors directly.

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