The State Duma has prepared proposals for compensation of Soviet contributions

A working group in the State Duma has prepared proposals for compensation of Soviet deposits in Sberbank, which were made before June 20, 1991. In particular, it is proposed to begin payments on USSR deposits from citizens 78 years of age and older, said Vladimir Senin, a member of the financial market committee.

“The proposal that, it seems to me, enjoyed greater support among the members of the working group is for the Ministry of Finance and PJSC”Sberbank“to agree on the size of priority compensation payments to depositors. And the point is to introduce criteria for the prioritization of payments and, starting from the age of “78 plus” years, begin to pay,” – leads his words to RIA Novosti.

Another proposal is to transfer citizens’ pre-reform savings into debt obligations of Sberbank, Senin added. In addition, he believes, an option is also possible with an indefinite suspension of the law on compensation for Soviet deposits. “If the state cannot fulfill its obligations, it would probably be more honest to admit this,” the deputy noted, admitting that this would require serious argumentation.

In 1995, the state guaranteed the restoration and safety of savings that were placed in Sberbank deposits before June 20, 1991. It also concerned deposits under personal insurance contracts and deposits in government securities of the USSR and the RSFSR before January 1, 1992. Then it was it was decided that the restoration of savings should be carried out by transferring them into targeted debt obligations of the Russian Federation using the debt ruble.

The suspension of compensation has been extended since 2003 due to the lack of sources of financing, as well as the fact that the government has not developed laws regulating the procedure for using the debt ruble and the transfer of deposits to targeted state debt obligations.

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