Kremlin eyes citizens’ wallets as budget deficit deepens – intelligence
Russian authorities are seeking new sources to replenish the state budget, including by increasing the burden on citizens and businesses.
This was reported by the Foreign Intelligence Service of Ukraine (FISU), according to Ukrinform.
According to the agency, Russia’s federal budget deficit for the first quarter of this year has already reached 4.6 trillion rubles, while the full-year target is 3.8 trillion.
“Now the Kremlin is frantically searching for sources of money,” the intelligence service said.
One of the most telling examples, it noted, is the postponement of a ban on betting in bookmakers for legally incapacitated persons, minors, and debtors.
Russia’s Ministry of Finance has openly acknowledged that introducing such a ban would cost the budget up to 27 billion rubles in tax revenue and another 14 billion in targeted contributions to sports. The number of betting clients could fall by a third. In other words, protecting vulnerable groups has proven too costly for the Russian budget.
At the same time, Putin has already instructed the government to consider introducing a windfall tax on excess profits for 2025 at a rate of 20%. A similar levy for 2021-2022 brought 318.8 billion rubles into the budget.
“Now the appetite has changed, and businesses will be the first to feel it,” the intelligence service noted.
It has also been established that Russia’s customs service has begun retroactively charging higher duties on goods imported from so-called “unfriendly” countries via members of the Eurasian Economic Union. Rates range from 15% to 50%, meaning clothing, cosmetics, and other non-food items could rise in price by at least 15-30%. In effect, sanctions pressure on Russians is now being amplified by their own government.
Another aspect is expanded financial surveillance. A new law will grant tax authorities automatic access to Central Bank data on individuals with “unaccounted” income starting from 2.4 million rubles. The Central Bank, in turn, will be required to “detect any anomalies.”
Other initiatives include introducing VAT on foreign goods purchased via online marketplaces (gradually: 7% in 2027, 14% in 2028, and 22% in 2029), legalizing online casinos with projected annual revenues of 100 billion rubles, and raising property taxes for owners of three or more apartments.
As previously reported, between 2022 and 2025 Russia spent an additional $130 billion to bypass sanctions and procure restricted Western goods.