Occupation authorities allow "write-off" of debts of Crimea residents to Ukraine banks

According to Speaker of the Crimean Parliament Vladimir Konstantinov, the debts under RUB 5 million (UAH 2.2 million) as of March 18, 2014 will be completely written off.

According to the press service, debts will also be written off for non-working pensioners, borrowers who have one or more minor children, single parents, guardians of one or more minor children if they have their own minor children, veterans of military operations.

Read alsoInfrastructure Minister reveals Ukraine's losses due Russia's "bridge to Crimea" constructionThe Kremlin-controlled parliament of Sevastopol on October 17 adopted in the second reading the law on writing off the debt or partially writing off the debt of the city residents to Ukrainian banks.

Ukrainian banks left Crimea immediately after the annexation, while Russian President Vladimir Putin advised Crimeans not to pay on old loans. The Deposit Protection Fund was registered on the peninsula, which began to return deposits to customers of Ukrainian banks.

Read alsoUkraine says 22 ships illegally entered occupied Crimea ports in OctAt the end of 2015, the Russian State Duma passed a law stating that Crimeans are also required to pay off on Ukrainian loans. According to experts, at the time of the annexation of Crimea, the total debt of Crimeans to Ukrainian banks was about $2 billion.