- In late November 2024, Russia passed a law that would allow military personnel who signed up after 01 December 2024 to have their loan debt written off. The write-off would cover loans of up to 10 million rubles (approximately USD $94,400 and would also apply to spouses. This is in addition to the loan repayment holidays for Russian servicemen programme. The independent Russian media organisation Mediazona reports that 411,000 repayment holidays for mortgages and personal loans have been taken up since October 2022.
- Russia’s financial incentives to military recruits are almost certainly intended to secure sufficient replacements for their steadily increasing casualties, now totalling over 760,000 killed and injured, and averaging 1,523 a day in November 2024. The incentives are also almost certainly intended to reduce the potential for Russia to have to enact further mobilisations, which are seen by Russian leadership as both damaging to public support for the war, and raising the risk of further detrimental large-scale emigration.
- Writing off loan repayments will highly likely increase financial pressures on Russian banks into 2025, in addition to pressures from high interest rates and sanctions. This will almost certainly reduce the resilience of the banking sector to respond to a potential economic shock.
Latest Defence Intelligence update on the situation in Ukraine - 30 December 2024.
— Ministry of Defence 🇬🇧 (@DefenceHQ) December 30, 2024
Find out more about Defence Intelligence's use of language: https://t.co/ffho8LM8Ws#StandWithUkraine 🇺🇦 pic.twitter.com/1volmpSSgv
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The war in Ukraine has just busted the existing mil-tech envelope – again. This time it’s high-speed robot boats armed with anti-aircraft missiles knocking down armed and manned aircraft.
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