It is noted that mobilized Russians can apply to a bank or a microfinance organization for a deferral of payments or a request to reduce their size for all types of loans for the period of mobilization.

“It is also recommended not to accrue forfeits (fines and penalties) under contracts, not to make demands for early fulfillment of obligations,” the text says.

Earlier, the Russian Ministry of Finance proposed extending the credit holiday mechanism for six months, until March 31, 2023.