Putin signed the law on cancelling the debt of the Crimean people

Путин подписал закон о списании долгов крымчан

The law will allow to reset the loans taken in Ukrainian banks by legal and natural persons annexed Crimea.

The President of Russia Vladimir Putin signed the law on refining the rules of repayment borrowers living in the annexed Crimea and Sevastopol before the Ukrainian banks. The document was published on the Kremlin website on July 31.

It is noted that the law gives the borrower the right to apply to the Fund for the protection of depositors (FSW) established by the Agency on insurance of contributions (ASV), not to interact directly with the person who has the right to demand repayment.

For the implementation of the activities of the Fund the DIA should transfer him 1.5 billion rubles (645 million).

The borrower shall have the right to request debt restructuring. The DIA Supervisory Board may decide until debt relief, if there are grounds for this.

The head of the annexed Crimea Sergey Aksenov said earlier that the law will allow to reset the credits to five million rubles, taken in Ukrainian banks by legal entities and individuals. Thus, all enforcement proceedings against the Crimean borrowers whose loans do not exceed this amount will be terminated and all arrests must be removed within 90 days.

Ukraine will sell the delinquent loans in the U.S. market

Earlier, Putin signed a law that simplifies the procedure of granting Ukrainians Russian citizenship.