To cope with recession, Vladivostok grocery chain opens lines of credit to clients, who use it to buy whiskey and snacks

In light of Russia's ongoing financial crisis, a grocery store chain in Vladivostok has begun selling goods to local customers on credit. So far, according to the news agency Reuters, the most popular purchases made using the borrowed money have been whiskey and snacks.

“BL Mart” says it's targeting middle-class consumers with its microloan program, which operates using credit cards that have a 10,000-ruble ($125) limit and a monthly interest rate of 3-5 percent.

According to Reuters, the store's credit system was especially popular during the New Year's holidays, but usage has dropped off sharply, since then.