Russia To Crack Down On Shadow Economy

The Russian government is set to introduce new measures to combat the shadow economy, Finance Minister Anton Siluanov announced on Tuesday.

The steps will include cracking down on undeclared cash transactions and taxpayers who do not contribute to the national health fund or other social funds, the minister emphasized.

”The Russian government is now taking steps to reduce the level of the shadow sector,”Siluanov told the Federation Council Committee on Budget and Financial Markets.

Earlier this month, Siluanov identified transparency in financial transactions as a central focus for 2026. Among the priorities, he said, is turning crypto mining into a clear and transparent sector by formalizing operators, introducing a miners’ registry, and establishing tax rules for the industry.

Speaking at a meeting of the Federal Tax Service collegium, the minister also called for a reduction in the use of cash, stricter enforcement of cash-register transactions, and closer monitoring of landlords who rent retail space. Siluanov further stressed the need for tighter customs control over imports from CIS countries to ensure proper taxation and curb“significant grey zones”in trade.

These steps, the minister said, are aimed at reducing the shadow sector, increasing state tax revenues, and strengthening oversight of social fund contributions.

Russian Economic Development Minister Maksim Reshetnikov echoed the plans in September, saying additional measures to formalize the economy were being prepared and that the issue has become far pressing.

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