Paul Goble
Staunton, Aug. 19 – Putin may think that drone attacks aren’t causing all that serious damage on Russia, but Russian banks don’t share that view and are requiring those seeking mortgages for housing in so-called “vulnerable” regions have insurance covering the damage Ukrainian drones have been inflicting.
According to Kommersant, major banks are now checking to see that the insurance borrowers have or plan to take out includes coverage of damages from drones and their parts (kommersant.ru/doc/8847161 reposted at echofm.online/news/rossijskie-banki-stali-trebovat-strahovat-ipotechnoe-zhilyo-ot-atak-bpla).
Policies including such coverage cost from ten to 20 percent more than those which don’t, the paper says; but if borrowers don’t have this kind of coverage, the banks are increasing the interest rate on loans they extend by between 0.5 and 2.0 percent or even “refusing” to agree to offer a mortgage at all.
Such actions by banks are likely a better indication of just how much Ukrainian drone attacks have brought the war home to Russia and how long those with money on the table think how long these attacks will extend into the future than are any upbeat comments by the Kremlin leader to the contrary.
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