We Agreed Not to Extend the Moratorium on Penalties for Developers: Putin

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Upon the expiration of the moratorium on penalties for developers violating deadlines for the delivery of housing projects, Russian authorities will not extend it into the next year. This was discussed during a meeting between the President and members of the government.

Vladimir Putin emphasized that this measure was introduced during the pandemic and was subsequently extended several times, but the current situation in the housing market "no longer requires such support for developers."

"At the same time, for home buyers, the penalty plays a significant role, strengthening the guarantees of protecting their rights if the receipt of apartments is delayed. The current moratorium on penalties for violations of deadlines for the delivery of housing projects expires on December 31, and we have agreed not to extend it further," the President clarified.