They want to establish repayment holidays in Russia until September 30

A bill on repayment holidays until September 30 to protect Russians has been submitted to the State Duma, RIA Novosti reports.

In particular, the draft law on protecting Russians from unfriendly actions of specific countries and international organizations submitted to the State Duma includes repayment holidays until September 30, 2022.

"The draft law establishes the periods during which the limitation on the amount of the full cost of a consumer credit (loan) as a percentage per annum at the time of the conclusion of a consumer credit (loan) agreement is not applicable, as well as the period of validity of the "repayment holiday" mechanism <…> until September 30, 2022, with the possibility of extending the specified period by the Government of the Russian Federation," the explanatory note says.

It is specified that the period until September 30, 2022 may be extended by a government decision.

At the same time, it is emphasized that the draft law defines mechanisms for supporting the sector of the economy, including simplifying the licensing procedures established by-laws that regulate the procurement of goods, works, services to meet state and municipal needs, as well as the specifics of regulating legal relations in the field of insurance activities in Russia.

Author: Galina Bakhshieva